Economy

Addressing reporters here, senior Congress leader Jairam Ramesh said that on October 2014 the Directorate of Revenue Intelligence, an institution of the Ministry of Finance, had announced that there was a huge scam in the case of export of coal and his investigation has begun.

Jairam Ramesh said that the first announcement took place in October, 2014, DRI made a statement and DRI has been ordered to investigate the over-invoicing in coal import. After this DRI gave a second statement on March 31, 2016, and for the first time in this statement it was informed that 40 companies are being examined before the proceedings, 40 companies are involved in this scam and overall, there is a scam of Rs 29,000 crore. The statement from DRI was given for the second time, on March 31, 2016. This statement came from the DRI, investigating the Rs 29,000-crore scam in the purchase of 40 companies and most of the coal from Indonesia.

Overvaluation of Coal Imports: AICC Press Briefing By Jairam Ramesh at Congress HQ

Directorate of Revenue Intelligence (DRI) is probing approximately 40 companies for overvaluation of Indonesian coal imports.

This overvaluation of coal imports amounts to ₹29,000Cr.

Among these 40 companies, Mr. Narendra Modi's industrialist friend Gautam Adani's company, too, is included.

DRI issued Letters Rogatory (LRs) to Singapore seeking its help to access documents lying with overseas branches of SBI bank, where coal import transactions took place.

Adani firm had asked Singapore Court to quash the LRs issued by DRI, but Singapore court rejected the plea. Now Adani firm asks Bombay HC to stall the DRI probe.

An SIT must be set up to ensure objective and time-bound enquiry.

Overvaluation of Coal Imports: AICC Press Briefing By Jairam Ramesh at Congress HQ

Directorate of Revenue Intelligence (DRI) is probing approximately 40 companies for overvaluation of Indonesian coal imports.

This overvaluation of coal imports amounts to ₹29,000Cr.

Among these 40 companies, Mr. Narendra Modi's industrialist friend Gautam Adani's company, too, is included.

DRI issued Letters Rogatory (LRs) to Singapore seeking its help to access documents lying with overseas branches of SBI bank, where coal import transactions took place.

Adani firm had asked Singapore Court to quash the LRs issued by DRI, but Singapore court rejected the plea. Now Adani firm asks Bombay HC to stall the DRI probe.

An SIT must be set up to ensure objective and time-bound enquiry.

Congress President Rahul Gandhi on Farmers in India

In India, the official figure of notes deposited after the demonetization was exposed. After this, the Congress on Thursday targeted Prime Minister Narendra Modi and said that Modi should apologize to the country for 'Tugal Farman'. Congress claimed that India's economy suffered a loss of 2.25 lakh crores in a year because of the demonetization.

According to the News Agency Bhasha, Congress spokesman Manish Tewari told the media, "During the demonetization, prime minister Modi had told three motives. First, that terrorism will hurt, secondly that counterfeit currency will be curb and the third is that the black money will come back. The question is, what was the result of this Tugalaki Farman? Because of the demonetization, the economy has lost 1.5 percent of GDP. Accordingly, a loss of Rs 2.25 lakh crore in one year. Besides, more than 100 people died due to standing in the queue. Millions of people have become unemployed."

Manish Tewari said, "If the Prime Minister had a morality ethics, he would resign, but we don't expect it from him. Our demand is that they should accept responsibility for this Tugalak Farman and apologize to the country."

Senior Congress leader and former finance minister P Chidambaram also targeted the government and said that due to the demonetization, India has suffered a loss of Rs 2.25 lakh crore. He indirectly referred to Prime Minister Narendra Modi and questioned, "Remember who said that Rs three lakh crore will not come back and will it be beneficial for the government?"

Congress Chief Spokesperson Randeep Surjewala said, "The RBI's report again proved that the demonetization was a widely known 'Modi Made Disaster'. 99.30 percent of notes that are out of circulation have come back.

According to the latest data released by the Reserve Bank of India, 99.30 percent of the 500 and 1,000 rupees notes closed after the demonetization was imposed on November 8, 2016, has come back to the banks. At the time of the demonetization, there were notes of Rs. 15.41 lakh crores in circulation of 500 and 1,000 rupees according to value. Out of these Rs. 15.31 lakh crores notes have been returned to the banks. This means that only Rs. 10,720 crore in closed notes have not been returned to the banks.

AICC Press Briefing By Manish Tewari on Demonetization

LPG Scam in Gujrat : AICC Press Briefing By Jairam Ramesh

In India, diesel prices have reached a high level of Rs 69.46 per liter, while petrol has also reached around 78 rupees per liter. The main reason for this is that the import of crude oil is going to be expensive by a huge decline in rupees.

According to the Public Sector Petroleum Distribution Company, the price of diesel today was 14 paise and 13 paise of petrol went up.

The cost of fuel in Delhi is the lowest in all metros. At the same time, in most state capitals, their prices are lower due to reduced VAT or sales tax.

Earlier on May 29, the price of diesel had reached a high level of Rs 69.31 per liter in Delhi.

Today, petrol in Delhi costs Rs 77.91 per liter and in Mumbai it is 85.33 rupees per liter. However, it was below Rs 78.43 in Delhi on May 29 and Rs 86.24 in Mumbai.

Since August 16, when the rupee has reached its lowest level of 70.32 against the dollar, the price of fuel is constantly increasing.

In the last 12 days, 77 paise increased in petrol. While the price of diesel has increased by 74 paise.

In June last year, oil companies gave up the 15-year-old fuel price arrangement which change in the fuel price on the first and 16th date of every month. In that place, he has adopted the system of change in everyday prices.

In many cities of India including national capital Delhi, diesel prices have reached the highest level till now. Along with this, the price of petrol has reached near the historic highest level recorded on May 29 this year.

According to information from Indian Oil Corporation, India's largest oil marketing company, diesel price was at record level in Delhi and Kolkata as well as in Chennai on Sunday.

Diesel went up 14 paise to Rs 69.32 per liter in Delhi on Sunday. Its last highest level was on May 29, at Rs 69.31 per liter. In Kolkatta, the price has gone up by 14 paise to record Rs 72.16 per liter.

In Chennai, diesel has increased by 15 paise and its price was at record level of Rs 73.23 per liter. In India's financial capital, Mumbai too, it has increased by 15 paise to Rs 73.59 per liter. This is the highest level after June 1. In Mumbai, its record price was Rs. 73.79 per liter on May 29.

Petrol price in Delhi, Mumbai and Chennai increased 11-11 paise to Rs 77.78, Rs 85.20 and Rs 80.80 per liter respectively. In these metros, its maximum cost was Rs 78.43, Rs 86.24 and Rs 81.43 per liter respectively, which was on May 29. Petrol in Kolkata rose by 10 paise to Rs 80.71 per liter on Sunday. There was a maximum price of Rs 81.06 per liter on May 29 this year.

AICC Press Briefing By Jairam Ramesh and Shaktisinh Gohil on Modi Government's Crony Capitalism

AICC Press Briefing by P Chidambaram on the release of the GDP back series data