Nirmala Sitharaman at the fourth edition of Times Network's India Economic Conclave

NEW DELHI: The government will bring back diamantaires Nirav Modi and Mehul Choksi , who triggered the Rs 12,600 crore fraud at state-run Punjab National Bank , defence minister Nirmala Sitharaman said on Thursday and asserted NDA had provided a corruption-free government.

"We have to be careful that the system doesn't allow such loopholes. Nirav Modi and Mehul Choksi have not gotten away, they ran away and we will get them back," Sitharaman said at an interaction at the fourth edition of Times Network's India Economic Conclave when asked about the banking fraud.

In her inaugural address, Sitharaman said the government was committed to reforms and pointed to the goods and services tax ( GST ) as an example of bold measures.

"GST may be having teething problems but it has been implemented successfully by the government. Saw every kind of pressure to postpone its implementation but the government is committed to reforms and has the courage to take bold reforms like GST," she said detailing the reform measures undertaken by the government.

In his welcome remarks, Vineet Jain , MD of Times Group, said the bank scams were a wake-up call for everyone and the government had been quick to respond with the Fugitive Economic Offenders Bill, which tightens the noose on wilful defaulters.

"But there are fears that banks might turn extra cautious in lending to corporates. The government must ensure that credit to honest businesses does not slow down because that will hit growth," he said.

Jain also cautioned against India becoming a digital colony of the west. "The prime minister has promised to convert our nation into a digital superpower and we look forward to that future. At the same time, we must guard against India becoming a digital colony of the west. There are lessons to be learnt from China here. We need a digital policy that serves the long-term interests of Indians and not of global monopolies," he said.

Taking part in an interaction at the conclave, Sitharaman said there was no element of corruption in the government and all its decisions were policy based and not "discretion based."

"Corruption-free government means money is spent for right cost and right individuals," she said, adding that digitisation had direct benefits for individuals.

The minister also defended the government's decision not to reveal the cost of Rafale fighters bought from France. "National interest is paramount for our government over pleasing the opposition party on the issue of revealing figures of crucial defence deals," she said.

" Rahul Gandhi is in search of something against this government. But he will not find anything as this government is corruption free. (By revealing Rafale price) I will be helping the enemy government too by revealing the avionics, the kind of weapons attached to it. I am sure the people of this country will understand the motive with which Congress is asking is only to keep the pot boiling," Sitharaman said.

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In Video: Rafale deal: Cannot satisfy Rahul's ego by responding to charges, says Nirmala Sitharaman