New Delhi: Terming Congress a ‘national saboteur’, Finance Minister Arun Jaitley on Monday accused it of spreading disinformation about the government’s possible moves in relation to the private sector company IL&FS that is struggling to pay its creditors. While responding to Congress president Rahul Gandhi’s allegations that public money was being used to bail-out the debt-ridden IL&FS group, Jaitley tweeted,”It (Congress party) wants to sabotage India’s economy by allowing a situation in relation to a company to persist, expand and become unmanageable. It lacks statesmanship and vision.”
“In fact, it is the section of the Congress leadership which has been urging me to enable investments in the IL&FS and save the company. A senior congress leader and Former Union Minister Prof. KV Thomas, has written to me on 20th September, 2018 making such a request. I am enclosing his letter. It demolishes every word that Rahul Gandhi and his coterie has been spreading,” Jaitley said, and posted a copy of the letter on Facebook.
Furthermore, the Finance Minister said that several entities including Life Insurance Corporation have invested heavily in IL&FS over the years. “Do I start calling all these investments today ‘a scam’ as per ‘the perverted Rahul Gandhi school of thinking?'” the finance minister wrote on his social media page.
Earlier in the day, Congress preisdent Rahul Gandhi had accused Prime Minister Narendra Modi of encouraging “crony capitalists”. He claimed that crony capitalists got their Rs 3.16 lakh crore debt written off using public money.
“Modi’s India – For Common Man: Notebandi-line up and put your money in banks. All your details into Aadhar. You can’t use your own money. “For Crony capitalists: Notebandi-convert all your black money to white. Let’s write off 3.16 lakh crore using common man’s money,” Gandhi tweeted.
The Congress leader also hit out at the BJP-led NDA government over a media report which, citing Reserve Bank of India (RBI) data, stated that public sector banks had written-off over seven times the recovery amount in the last four years. Between April 2014 and April 2018, the country’s 21 state-owned banks ended up writing off Rs 3,16,500 crore of loans even as they recovered Rs 44,900 crore written off on a cumulative basis ? or less than one-seventh the write-off amount, the report claimed.
On Sunday, Gandhi had claimed that public money was being used to bail-out the debt-ridden IL&FS group. In a tweet, titled, “Lights, Camera, Scam”, Rahul alleged that in 2007, when Narendra Modi was the Gujarat chief minister, IL&FS was given the ‘GIFT CITY’ project worth Rs 70,000 crore. Till date no work has been achieved under the plan. Furthermore he claimed that in 2018, Modi was bailing out the same company via LIC and SBI.