National
Allegations related to 80:20 scheme false: Congress
New Delhi, March 6 (IANS) The Congress on Tuesday said the allegations levelled by the BJP against former Union Finance Minister P. Chidambaram of favouring select private traders through 80:20 gold import scheme were “false” and “baseless”.
Addressing media persons outside Parliament, senior Congress leader Anand Sharma said the Narendra Modi government was even “manufacturing documents” to tarnish the image of its political opponents as a “diversionary tactic to avoid focus from around Rs 27,000 crore fraud by Nirav Modi, Mehul Choksi and Jatin Mehta”.
He said that “no files were signed” on May 16, 2014, as alleged by Union Law Minister Ravi Shankar Prasad.
Sharma emphasized that firstly the Exim policy is not the Finance Minister’s prerogative alone, and secondly that no policy decisions could be taken when the Model Code of Conduct was still in place.
He said there were only two circulars issued by the Reserve Bank of India (RBI) on the 80:20 policy, and both were issued in 2013 about a month apart.
“If there is any other circular or document related to this scheme, the BJP and the government must show it. As far as we know, there are only these two RBI circulars and no circular on May 16 as is being falsely claimed by the government,” the Congress leader said, flaunting the papers.
The Bharatiya Janata Party (BJP) has alleged that Chidambaram as Finance Minister had granted seven private firms — including the Gitanjali Gems that is accused in a multi-crore PNB scam — gold import benefits on May 16, 2014, the day the results of Lok Sabha polls were announced.
Sharma said the restrictions were placed on import of gold — known as the 80:20 scheme — at a time when huge imports of gold were putting strain on country’s foreign exchange as well as the Current account Deficit (CAD) as the oil prices were raging between $105-$127 per barrel in the international market.
“India had incurred a bill of $190 billion for oil imports the previous year. The massive gold imports were putting extra burden on foreign exchange reserves. So it was decided to put some curbs on gold imports,” Sharma, a former Commerce and Industry Minister, said.
“Thus it was decided that 80 per cent of the imported gold would go to jewellery manufacturers while the 20 per cent would mandatorily go to the gold exporters who export after value addition. This is known as the 80:20 scheme.”
He said that initially only large public sector banks, primarily the SBI, the SSTC and MMTC (Metals and Minerals Trading Corporation) were allowed to import gold but it led to a shortage in the market and subsequently some private “premium” firms were also allowed to import gold but under strict checks and balances.
“The RBI has all the records which firms were allowed and what was their credibility,” Sharma said.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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