NEW DELHI: Congress rubbished BJP’s allegations that UPA finance minister P Chidambaram favoured Nirav Modi, accused within the PNB scam, throughout the “80:20 gold scheme”, arguing the Modi government reaffirmed the mentioned policy in Parliament months after coming to power.
Deputy leader of opposition in Rajya Sabha Anand Sharma mentioned Nirmala Sitharaman, former commerce minister who now holds the defence portfolio, fully embraced the scheme restricting import of gold in Rajya Sabha on August 13, 2014. The BJP minister was responding to a question on gold industry.
The 80:20 scheme introduced by way of RBI restricted import of gold to state trading entities and “big name trading firms”, with the condition that 80% of imported gold will likely be for domestic consumption and 20% could be mandatorily exported after worth addition.
Dismissing Union regulation minister Ravi Shankar Prasad’s allegation that Nirav Modi’s company was approved to import gold just a day ahead of the Lok Sabha results, Congress mentioned orders to permit “big name trading firms” as importers had been issued on May 15 and 21, 2014, by way of the government and the RBI.
“On representations from Gem and Jewellery Export Promotion Council and recommended by way of Directorate General of Foreign Trade, Star Trading Houses/Premier Trading Houses had been additionally accepted to import gold below ‘80:20 scheme’ with restrictions that only the ones trading houses will likely be accepted to import who have achieved so previous to Aug 13, 2013 (when restrictions on gold import had been imposed),” AICC spokesman Randeep Surjewala mentioned.
The RBI round of August 2013 said that “big name trading firms” might be allowed to import gold.
Calling BJP’s charges as “lies to distract from PNB scam and the government’s complicity within the flight of Nirav Modi”, Surjewala requested if the government would file an FIR in opposition to Nirmala Sitharaman who justified the scheme in Parliament. He mentioned besides the minister, the finance secretary too had justified the scheme on August 21, 2014.
“Why are Sitharaman and present commerce minister Suresh Prabhu silent at the issue that is their domain and why is regulation minister Prasad talking about it?” he requested.
Surjewala mentioned the gold scheme was dropped at curb the outflow of foreign currencies as the present account deficit had risen to 4.eight%.
In a counter charge, Surjewala mentioned Modi government scrapped the restrictive scheme in November 2014 after justifying it in Parliament, and the transfer gave the look to be designed to assist the trade of Nirav Modi and Mehul Choksi.
Deputy leader of opposition in Rajya Sabha Anand Sharma mentioned Nirmala Sitharaman, former commerce minister who now holds the defence portfolio, fully embraced the scheme restricting import of gold in Rajya Sabha on August 13, 2014. The BJP minister was responding to a question on gold industry.
The 80:20 scheme introduced by way of RBI restricted import of gold to state trading entities and “big name trading firms”, with the condition that 80% of imported gold will likely be for domestic consumption and 20% could be mandatorily exported after worth addition.
Dismissing Union regulation minister Ravi Shankar Prasad’s allegation that Nirav Modi’s company was approved to import gold just a day ahead of the Lok Sabha results, Congress mentioned orders to permit “big name trading firms” as importers had been issued on May 15 and 21, 2014, by way of the government and the RBI.
“On representations from Gem and Jewellery Export Promotion Council and recommended by way of Directorate General of Foreign Trade, Star Trading Houses/Premier Trading Houses had been additionally accepted to import gold below ‘80:20 scheme’ with restrictions that only the ones trading houses will likely be accepted to import who have achieved so previous to Aug 13, 2013 (when restrictions on gold import had been imposed),” AICC spokesman Randeep Surjewala mentioned.
The RBI round of August 2013 said that “big name trading firms” might be allowed to import gold.
Calling BJP’s charges as “lies to distract from PNB scam and the government’s complicity within the flight of Nirav Modi”, Surjewala requested if the government would file an FIR in opposition to Nirmala Sitharaman who justified the scheme in Parliament. He mentioned besides the minister, the finance secretary too had justified the scheme on August 21, 2014.
“Why are Sitharaman and present commerce minister Suresh Prabhu silent at the issue that is their domain and why is regulation minister Prasad talking about it?” he requested.
Surjewala mentioned the gold scheme was dropped at curb the outflow of foreign currencies as the present account deficit had risen to 4.eight%.
In a counter charge, Surjewala mentioned Modi government scrapped the restrictive scheme in November 2014 after justifying it in Parliament, and the transfer gave the look to be designed to assist the trade of Nirav Modi and Mehul Choksi.
Congress says 80:20 gold scheme was endorsed by Modi govt after it came to power
![Congress says 80:20 gold scheme was endorsed by Modi govt after it came to power]()
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March 09, 2018
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