Thursday, October 22, 2020
Home News Reports Rahul Gandhi repeats the same lie in Karnataka as he did in Gujarat, only...

Rahul Gandhi repeats the same lie in Karnataka as he did in Gujarat, only this time, it is bigger

Rahul Gandhi has a knack for giving unsubstantiated statements. He is currently campaigning in Karnataka and has already started repeating the same lines he used during the Gujarat elections. The only difference is, his claims are now bigger and they keep growing more far-fetched.

Rahul Gandhi stated during a Gujrat election rally last year that PM Modi had waived off loans worth 1.3 lakh crores for 15 big industrialists but when farmers demand a loan waiver he does not utter a word. The figure itself was an astounding 20,000 crores higher than his previous claim of PM Modi ‘waiving off’ loans of the concerned 15 industrialists that he had made the year before in 2016.

However, Rahul Gandhi’s claims were exposed and he was duly tutored about the fundamental difference between a loan waiver and a loan write off. But sadly, the Congress prince has not learnt much, or he thinks he can get away with lies again and again because he is, well, him.

There have been numerous attempts to explain to Rahul and his cabal that a loan waiver is not the same thing as a loan write off. Write-offs are a purely technical, accounting entry. Write-offs give a true picture of the bank’s assets (loans issued) and the income thereon (interest). Accounts, where prospects of recovery are bleak, are technically written off from the live ledgers and parked in AUCA (Advance Under Collection Account) in accordance with laid down instructions. Most write-offs, irrespective of outstanding, should be treated as technical write-offs and parked in AUCA and recovery process of these accounts will continue until resolution of these accounts. Putting an account under AUCA by no way means the recovery of loans would not continue and the bank or financial institution continues to employ all possible legal and technical means to recover the loan amount.

Moreover, RBI Governor Urjit Patel in his speech in August 2017 had announced that 1.3 lakh crores were the total cost of farm loan waivers by Government of India. But again, facts were summarily ignored and propaganda took precedence for the Congress party and Rahul Gandhi.

Rahul Gandhi repeated the same lie again today while speaking at a rally in Karnataka.

Note how the number of the industrialists receiving this imaginary ‘waive off’ has remained the same. But the loan amount has been growing faster than India’s imaginary intolerance. From 1.1 lakh crores in 2016, it became 1.3 lakh crores in 2017. Now in a matter of few months, it has become 2.5 lakh crores.

So either the imaginary ‘waive offs’ which never were have found a magic potion that is making them fatter and bigger or Congress’s beloved prince just has a habit of not bothering to verify facts before uttering out any claim.

  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

Sanghamitra
reader, writer, dreamer, no one

Related Articles

Trending now

Is Modi govt giving Coronavirus vaccines for ‘free’ only to Bihar? No, that’s not how it works

Union Finance Minister Nirmala Sitharaman on Thursday while releasing the BJP manifesto in Bihar for upcoming elections said that the BJP promises free coronavirus vaccines in Bihar, whenever the vaccine is made available.

All you need to know about Mohammad Shahabuddin, the dreaded mafia don and once Lalu Yadav’s close aide who made Siwan tremble

The Siwan district, in the 90s and early 21st century, became his fiefdom and Mohammad Shahabuddin was its unchallenged ruler.

Bihar Assembly elections: NDA set to return to power as migrant workers may put their weight behind Modi

From migrant workers crisis to Citizenship Amendment Act - what will sway the Bihar elections

“Islam is in crisis all over the world” and all the other things the French President said

Earlier this month, the French President Emmanuel Macron took the stage at city hall in the Paris suburb of Les Mureaux to deliver one of the most consequential speeches of his career.

October 22, 1947: The day when Pakistan-backed tribal Lashkars invaded Jammu and Kashmir to plunder, rape and destroy

A two-day national symposium on 'Memories of 22 October 1947' is being organised in Srinagar to create awareness among the Kashmiris about the violence inflicted by Pakistan on their ancestors

France: Charlie Hebdo cartoons projected on government building to express solidarity with deceased teacher who was beheaded by Islamic terrorist

Days after the barbaric beheading of teacher Samuel Paty on the streets of Paris by a terrorist for showing the cartoons of Prophet Mohammad to his students, support continues to pour in for the deceased teacher.

Recently Popular

UK: 37-year-old paedophile named Rehan Baig jailed for raping chickens to death while his wife filmed it

Rhan Baig's wife had also joined him in the videos and at one point he alternated between having sex with his wife and the chickens.

‘Comedian’ Agrima Joshua, who calls herself ‘feminist’, passes offensive sexual comments against woman due to political differences

Agrima Joshua had earlier found herself in a controversy after insulting the Shivaji Maharaj memorial during a performance.

Remember Sheena Bora case? Param Bir Singh was the IG of Konkan range, the site where her body was dumped

Param Bir Singh knew that Sheena Bora was missing. He had asked Rahul Mukerjea to file a 'missing persons' report. Sheena, however, was never reported as 'missing'.

Paris: Two Muslim women stabbed under Eiffel Tower by white women shouting “dirty Arabs”

Two Muslim women were stabbed repeatedly under the Eiffel Tower on Sunday night by two white women who called them "dirty Arabs".

Caught on camera: NCP’s Nawab Malik ‘predicts’ Arnab will commit suicide as he will be ‘trapped’ in TRP case

Maharashtra minister Nawab Malik insists that though the BARC letter clears Republic TV's name, the police investigation 'will find evidence' against Arnab.

No, going to Dubai to buy the new iPhone 12 Pro is not cheaper than buying in India. Here is how

Dhruv Rathee criticised the 'Indian Tax System' by claiming that travelling to Dubai for buying an iPhone 12 Pro is cheaper than getting it from India.
- Advertisement -

Is Modi govt giving Coronavirus vaccines for ‘free’ only to Bihar? No, that’s not how it works

Union Finance Minister Nirmala Sitharaman on Thursday while releasing the BJP manifesto in Bihar for upcoming elections said that the BJP promises free coronavirus vaccines in Bihar, whenever the vaccine is made available.

West Bengal: TMC workers attack BJP workers with lathis in Bardhaman for taking out a rally in support of farm bills

In the video that has gone viral on social media, it can be seen how TMC workers unleashed attacks on BJP workers with sticks

‘Not a serious crime’: Islamic scholar defends Muslim man who beheaded the French teacher, says it is not something he should be punished for

Normalising the beheading incident, the Islamic scholar said that the only punishment for insulting the Prophet is death and 'ideally' it should have been carried out by the Islamic State.

Sweden joins other European countries to ban China’s Huawei, ZTE from upcoming 5G networks, calls China biggest threat

Sweden has become the latest country to ban Chinese telecom groups Huawei and ZTE from its 5G mobile networks.

Eros Now apologises for publishing vulgar Hinduphobic content on Navratri

After netizens outraged over vulgar posts on Navratri, Eros Now issued an apology.

Government of India issues warning to Twitter CEO Jack Dorsey over misrepresentation of Indian map

Govt tells Twitter that any attempt to disrespect sovereignty and integrity of India is totally unacceptable and also unlawful

INS Kavaratti: ‘Made in India’ ASW stealth corvette to be commissioned into Indian Navy today. All you need to know

INS Kavaratti is the last of the four Kamorta class indigenously built ASW stealth corvettes.

All you need to know about Mohammad Shahabuddin, the dreaded mafia don and once Lalu Yadav’s close aide who made Siwan tremble

The Siwan district, in the 90s and early 21st century, became his fiefdom and Mohammad Shahabuddin was its unchallenged ruler.

Bihar Assembly elections: NDA set to return to power as migrant workers may put their weight behind Modi

From migrant workers crisis to Citizenship Amendment Act - what will sway the Bihar elections

Do you want courts to conduct proceedings from ‘Chaupals’? Delhi HC raps AAP govt for not giving funds to district courts

Delhi High Court raps AAP government withholding funds needed for recruitment in District Courts, issued Rs. 2.5 crore from its own funds.

Connect with us

245,563FansLike
465,858FollowersFollow
18,800SubscribersSubscribe