With the IL&FS debt crisis now out in the public domain, the government is further in target of the opposition parties.
The Congress chief Rahul Gandhi launched a fresh attack on Prime Minister Narendra Modi.
Gandhi has alleged that public money was being used to bail out the debt-ridden Infrastructure Leasing & Finance Services (IL&FS) group.
The group has a debt burden of over Rs. 90,000 crore.
The Congress chief has alleged that Prime Minister Modi is rescuing the group via public savings in Life Insurance Corporation (LIC) and the State Bank of India (SBI).
It need be mentioned that the IL&FS group is a conglomerate with a complex corporate structure that funds infrastructure projects across the country.
Gandhi went on to allege that as back as in year 2007, the the IL&FS was given the “Gift City” project worth Rs. 70,000 crore and till date no work has been done.
He recalled that at the time, it was Narendra Modi who was the chief minister of Gujarat.
He then added that now in year 2018, PM Modi is bailing out the same company via LIC and SBI.
This comes as the Congress warned of ‘Lehman Brothers-type’ economic crisis facing the country due to frequent scams in the country’s financial systems.
Congress spokesman Manish Tiwari also tweeted that nobody knows where the Rs. 42,000 crore disappeared.>