Recently, Union Law Minister, Ravi Shankar, talked about UPA government’s concealment affairs. A scheme called as 80:20 gold scheme was introduced at the time of UPA government. According to suspicious acts carried under this scheme, Finance ministry will have to share all the details and files related to this. Within coming 10 days, Parliament’s Public Accounts Committee will share the monetary details of this scheme.
BJP claims that, the scheme was started during the tenure of P Chidambaram. As per the ruling party, the country faced a huge financial loss as private jewellery companies misused the scheme. These fraud jewellers included Mehul Choksi as well.
Recently, when PNB fraud came into the picture, along with a fraud sum of Rs. 12,700 crore, the ruling government faced innumerable hissy fits from the oppositions. It was about NDA government allowing frauds like Nirav Modi and Mehul Choksi run out of the nation.
But, center does not seem to take all blames with that much ease. During the press conference, Union Law Minister Ravi Shankar continued saying that, “so-called economist Prime Minister Manmohan Singh” that the banking system was derailed and that former finance minister P Chidambaram helped Mehul Choksi’s Gitanjali Group through the UPA government’s 80:20 Gold Import Scheme.”
“There was a Scheme 80:20 introduced in August 2013 and repealed in November 2014. On May 16, 2014, the date of the declaration of results, the then finance minister gave ‘aashirvaad’ to seven private companies under the 80:20 Scheme. One of those companies was Gitanjali,”
“Chidambaram and Rahul Gandhi must answer why this was passed on the day of the results to benefit these seven companies? Chidambaram wasn’t doing it himself, but they had his blessings,” added the minister.
Prasad said it was because of the advances given during the UPA government that the non-performing assets (NPAs) have risen up to 82 percent. “Time and again we have stated that not a single loan given under our govt is NPA. In 2008, the total advance to people given by the banks was Rs 18.06 lakh crore. By March 2014, the amount went up to Rs 52.15 lakh crore. The stressed asset identified out of this was only 36 percent,”
Mr. Ravi Prasad also pointed out that, the banking system faced a huge setback during the tenure of former PM Manmohan Singh. As per the accusations, former PM Manmohan Singh went on interfering the complete system without concluding much about the outcomes. He said, “Under the ‘so-called economist’ Prime Minister Manmohan Singh, the entire banking system went haywire due to all kinds of interference with it,”
During the so called development scheme to balance out the foreign exchange market, a loss of Rs. 1 lakh crore was detected.
As claimed by BJP members, the scheme was none less than a round tripping of black money and money laundering in the market.
According to the statements of Mr. Alok Nath, the scheme started in August 2013 and ended in November 2014. When seven companies were exporting a large amount of gold and earning money out of it, Geetanjali was one of them.
In the end, Mr. Nath meticulously quoted that, “Chidambaram & Rahul Gandhi must answer why was this passed on the day of results to benefit these seven private companies”.