EDITORIAL

NDA favored private diamond firms against PSUs, cornered Indian economy

Written by IWP

The Centre has favoured private diamond companies over public-sector units (PSUs) in getting foreign deals that resulted in promotion of Nirav Modi and Mehul Choksi etc.,in the process.

The Prime Minister Narendra Modi-led government cut out PSU’s like MMTC and Hindustan Diamonds in 2015 at a time when diamond purchase pacts was inked with Russia.

It is time that Prime Minister Narendra Modi to explain to the country as to why he over looked the government-run entities and promoted private firms, some of which are facing investigation of defrauding banks.

In December 2015, when the Russian President Vladimir Putin came to India, Prime Minister Modi personally was present and help in facilitating the signing of diamond purchase agreements between 12 diamond companies mainly from Gujrat and Mumbai, and from Alroza of Russia. These companies also included Rosie Blue, a company which is facing investigation by the (probe) agencies for defrauding the banks. So, what Prime Minister has to say about the support that has been given to the promoters of these companies.

All these details must come out. India is concerned as, at that time also some of the subjects had made it clear that the government agencies and PSUs were negotiating for diamonds – MMTC and Hindustan Diamonds Corporation limited. These both PSUs were cut out and these private diamond entities were brought in for diamond purchase agreements from Alroza on December 11, 2015. Let the government explain the reasons why it was done.

The nation raises a question against the Prime Minister and the Finance Minister Arun Jaitley of not being forthcoming and honest in their response on the issue of bank fraud by businessmen Nirav Modi and Mehul Choksi.

The Prime Minister and the Finance Minister should have forthcome and should have been honest in their response to the bank fraud by both Nirav Modi and Mehul Choksi.. There is no explanation till now about the presence of Mehul Choksi at prime minister’s residence at a function.

Similarly, the government’s explanation on the Nirav Modi’s photographs with Prime Minister Modi in Davos goes as premeditated by Nirav Modi.

It is strange that Finance Minister is not breaking the silence but blaming the banks. Country wants to know what action has been taken to protect public monies in various banks other than harassing the public by immature demonetisation policy that killed hundreds of people across the nation for want of basic needs.

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IWP

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