US banking giant JP Morgan Chase Chief Executive Officer Jamie Dimon praised Prime Minister Narendra Modi for doing an unbelievable job in India, and said “liberal press in the US beats the hell out of him when he has taken 400 million people out of poverty”.

Dimon, in a webinar hosted by The Economic Club of New York, praised Modi’s government for alleviating poverty and implementing reforms.

He also complimented the PM for being tough and untangling the country’s bureaucratic system, adding that “a little bit more of that” is needed in the US.

“They (India) have got an unbelievable education system. Unbelievable infrastructure. They are lifting their whole country because this one man (PM Modi) is tough.”

He criticised certain US government officials for allegedly imposing their views on how India should be governed, remarking that they are fantasising.

“They have 29 states or something like that… and the tax system is complicated.. It’s like Europe. It leads to enormous corruption. He is breaking it down.. And so yeah there are these people who have turned things around.. And we need a little bit of that here as well,” he said.

The CEO also said that 700 million people have opened bank accounts in the country and the transferred payments are going through.

“Every citizen by hand or eyeball or by finger is recognised. They’ve bank accounts for 700 million people. Their transferred payments are going through,” Dimon said.

India’s digital programmes like Aadhaar and bank accounts for 700 million people have led to financial inclusion. “Every citizen, by hand or eyeball or by finger, is recognised. They have bank accounts for 700 million people. Their transferred payments are going through,” he added.

Dimon praised India’s education system and infrastructure as remarkable. He indirectly referenced the impact of the Goods and Services Tax (GST) in curbing corruption arising from varying state tax systems.

The US bank CEO expressed confidence in the performance of the US economy over strong employment and healthy consumer finances. He said the US economic boom was unbelievable and even if the country goes into recession, the consumer’s still in good shape.

Interestingly, the CEO’s comments coincide with general elections in which PM Modi is seeking a third consecutive term.

In a separate development, PM Modi launched a scathing attack on the opposition Congress after Sam Pitroda’s comments on inheritance tax, and called them as party’s ‘dangerous intentions’.

In a video, Pitroda described the inheritance tax in the United States’ as an interesting law and called for a debate and discussion on such a law.