NEW DELHI: Congress leader Rahul Gandhi on Wednesday referred to the Howdy Modi event to be held in Houston during PM Modis US visit to take a swipe at the PM.
Howdy economy doin, Mr Modi? Aint too good it seems,” Rahul said on Twitter, using the hashtag “HowdyEconomy”. Rahuls jibe ca- me even as Congress quoted reports of RBI and SBI to claim Life Insurance Corporation (LIC) had been compelled to make “imprudent investments” in risky public sector banks so that the government can “hide” its growing corpus of bad debts.
Congress spokesperson Ajay Maken referred to RBIs handbook of statistics on the Indian economy to allege that the government had forced LIC to make rash investments like a fund infusion of Rs 21,000 crore to IDBI in 2018-19, all of which was wiped out. Maken also said it was a matter of concern that the Union cabinet had approved fresh funding of Rs 9300 crore to IDBI from LICs corpus. “LICs risky investments have gone up to a historical high of Rs 10.7 lakh crore in the last five years alone. A case in point is that even when the overall benchmark sensex grew at 73% in the last five years, the BSE (S&P) PSU index where LIC invested only grew at 20%,” Maken said.
The former Union minister also referred to a SBI research wing report whichOriginal Article
