Tuesday, December 1, 2020
Home Fact-Check How National Herald distorted facts to attack Piyush Goyal

How National Herald distorted facts to attack Piyush Goyal

The National Herald newspaper which is deeply embroiled  (along with its owners Sonia and Rahul Gandhi) in an alleged scam has done it again. In November last year, National Herald was relaunched by Rahul Gandhi, albeit in a digital avatar. And it appears it has restarted its activities of furthering Congress propaganda and other half truths. Earlier this year, we had exposed how the site had falsely claimed that money from PM’s Relief Fund went to Adani to build a hospital in Gujarat.

Now, following on the falsehoods of thewire.in, National Herald has tried to pick up the baton. In an article, claims that Power Minister Piyush Goyal handed out undue favours to Jay Amit Shah’s company, Kusum Finserve. It claims that the loan given by Indian Renewable Energy Development Agency (IREDA), a PSU under Goyal, had “flouted all rules and norms”.

We had given a detailed explanation regarding the loan in question. The terms and conditions of availing loans from IREDA clearly mentioned that any private entity in India can apply for a loan. The mission of IREDA is to promote, develop and extend financial assistance for renewable energy and energy efficiency/ conservation projects. It has sanctioned around Rs around Rs 37,000 crore of credit for clean energy projects so far and further Rs 28,000 crore to developers, which aids generation capacity of around 7,000 MW. It plans to sanction around Rs 13,000 crores this financial year. Hence, a Rs 10.35 crore loan was not out of order.

Further, Jay Amit Shah in his reply to thewire itself, had mentioned that the loan from IREDA was being repaid in time, and the outstanding amount as on 30.6.2017 had come down to Rs 8.52 crores due to its repayment.

Now the National Herald has tried to find some new “irregularity”. It claims as below:

So the allegation is that IREDA can fund projects of only upto 1 Megawatt, whereas Jay Shah’s company had a 2.1 Megawatt plant. To prove this, they use a screenshot from the IREDA website, which says the same. Here is a screenshot of the same portion, sourced from the IREDA site 

Read Q3 and Q4. Q3 talks about the the “Equipment Financing Scheme”. Here it is mentioned that loan can be given for upto 1MW Wind farm projects. This is the regulation which National Herald was referring to. They claim Jay Amit Shah’s company flouted this norm since the project is of 2.1MW. Even while referring to this, they made an error of reproducing the 75% as 70%

Next one can see Q4. This speaks about a “project financing scheme”. Here there is no limit on the capacity of the project. Further, the 70% cap is mentioned here, and not in Q3. Thus, a borrower can get a loan under this  “project financing scheme, irrespective of capacity of the project. Thus, there is nothing to stop a financing of 2.1 MW plant

A source in the Power Ministry confirmed that the loan had been taken under the “project financing scheme” and not the “Equipment Financing Scheme”. It appears National Herald has picked up this habit of lying from its owner, Rahul Gandhi. 

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

After Barkha Dutt failed to whitewash Khalistan supporter Deep Sidhu, Shekhar Gupta’s The Print picks up the pieces

Actor Deep Sidhu continues to refuse to call Jarnail Singh Bhindranwale a terrorist while he keeps participating in farmer protests

Father of Shehla Rashid files complaint against her saying she’s threatening him with life, accuses her of being involved in ‘notorious activities’

The father of the career-protestor-turned-politician Shehla Rashid claims the latter being involved in 'notorious activities'

Farmer group bats for ‘middlemen’, hails them as ‘service providers’ while scare-mongering about reforms in agriculture sector

Protesting farmers say that they are happy to pay commission to middlemen, claims new farm laws are not needed for their protection

What they never told you when they said India was the worst performing emerging economy

India’s economy contracted by 23.9%. For comparison, Brazil’s GDP contracted by 11.9% and Russia’s GDP by 8%. So, did they really do better than India?

Assam closes down temporary Covid-19 care centres, gears up to reopen elementary schools as pandemic gets under control

Assam has been witnessing reduced cases of Covid-19 with recovery rate of 98 per cent and the death rate of 0.46 per cent

Shiv Sena to organise Azaan recitation competition, party leader calls it as important as ‘Maha Aarti’

Shiv Sena is to bear the cost of the event and will also reward the contest winners.

Recently Popular

SFJ ads appear on YouTube offering $10m support for farmers, in return, wants Sikhs to join ‘Khalistan movement’: Details

Amid ongoing farmers’ protests in Punjab, Haryana, and Delhi, it is evident that Khalistani supporters have hijacked the protests and now, they are running ads on YouTube

Wife of late Wajid Khan writes on her sufferings in an inter-faith marriage, says anti-conversion law should be nationalised

Wife of late music composer Wajid Khan wrote how her husband and his family had been forcing her to convert to Islam after their marriage

Shiv Sena to organise Azaan recitation competition, party leader calls it as important as ‘Maha Aarti’

Shiv Sena is to bear the cost of the event and will also reward the contest winners.

Indian Idol contestant reveals how she faced opposition from conservative Muslim society as singing is ‘not allowed’

The Indian Idol contestant revealed how women in her society are looked down upon if they try to excel in any field.

His family called our children ‘illegitimate’ because I didn’t convert to Islam’: Late music composer Wajid Khan’s wife reveals

Wajid Khan's wife has stated to Times of India that the late music composer's family never accepted her wedding under the Special Marriages Act because she had refused to convert to Islam.

Indian man proposes to his Australian girlfriend during Ind vs Aus cricket match, here is what happened next

While India's performance has been below par, netizens found happiness in the unusual proposal that became the highlight of the match.

After Barkha Dutt failed to whitewash Khalistan supporter Deep Sidhu, Shekhar Gupta’s The Print picks up the pieces

Actor Deep Sidhu continues to refuse to call Jarnail Singh Bhindranwale a terrorist while he keeps participating in farmer protests

Pilibhit: 12-year-old boy escapes from madrassa alleging he was chained and tortured by his teacher

A 12-year-old boy was beaten by head of the Al-Jamiatul Razvia Madinatul Islam madrassa in Pilibhit after he tried to go home

Father of Shehla Rashid files complaint against her saying she’s threatening him with life, accuses her of being involved in ‘notorious activities’

The father of the career-protestor-turned-politician Shehla Rashid claims the latter being involved in 'notorious activities'

Private procurements from Adnai group helped eliminate middlemen and generate more income, reveals apple farmers from Himachal Pradesh

Apple Orchard manager Manjeet Singh Dhillon informed that Adani group had been purchasing apples from farmers since 2006.

Eight months after cutting water supply of migrants to drive them away in middle of pandemic, Arvind Kejriwal govt offers free water to protesting...

Delhi Jal Board VP and AAP MLA Raghav Chadha himself went to Burari to ensure water tankers are available for protesting farmers

‘Shaheen Bagh returns’: Netizens react as protesting ‘farmers’ served biryani at Ghazipur in New Delhi

Biryani at the ongoing farmers' protest brings back memories of the 'organic' Shaheen Bagh protests

Farmer group bats for ‘middlemen’, hails them as ‘service providers’ while scare-mongering about reforms in agriculture sector

Protesting farmers say that they are happy to pay commission to middlemen, claims new farm laws are not needed for their protection

Protests against farm laws are based on rumours and misinformation: PM Modi punctures holes in the propaganda surrounding farm laws

PM Modi noted, "The government is consistently addressing the fears and queries of farmers who are anxious about the government's decision."

Not ‘just a municipal election’, a defeat of TRS in the Hyderabad Municipal Elections will alter the political discourse of the state

Not just top BJP leaders, top TRS leaders are also campaigning hard for the GHMC elections, making it more than just a municipal election

Former PMO official from UPA era gets excited at ‘New Zealand MP supporting farmers,’ except that no MP from New Zealand supported

The former advisor to Manmohan Singh shared a Tweet by Canadian politician to claim that a 'New Zealand' MP is supporting the Punjab farmers' protest

Connect with us

245,563FansLike
491,445FollowersFollow
20,200SubscribersSubscribe