To counter Congress, govt lists projects awarded to Anil Ambani’s Reliance under UPA: Report

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Reliance Is The World’s Costliest Energy Stock To Own

The central authorities is planning a counter technique in opposition to the Congress celebration’s ‘Rafale deal’ fees in opposition to the Narendra Modi authorities for favouring Anil Ambani’s Reliance Defence as a part of the offset deal. While the federal government has denied any involvement in selecting the corporate, it’s now attempting to dig holes in projects allotted to the Anil Ambani’s group Companies under the earlier UPA authorities’s tenure. According to an estimate, Anil Ambani’s firm had been awarded projects price over Rs 1-lakh crore since 2007, the Economic Times reported.

The newspaper quoted sources as saying the federal government has requested key ministries, together with energy, Telecom, street transport and highways, to share particulars concerning projects carried out by the billionaire businessman’s corporations under the Congress-led UPA authorities. “All these projects were with government agencies. We are looking at the processing time that went into these projects, and whether due processes were followed,” the official advised the newspaper.

The authorities’s main focus is on Reliance Group’s Telecom arm, RCom, Reliance Power, Reliance Infrastructure, Reliance MediaWorks, and Reliance Natural Resources. During the UPA, the Reliance Group gained projects price over Rs 77,000 crore within the energy sector alone. It additionally obtained regulatory approvals for its projects for RCom and Reliance Infrastructure in a file time, which not solely helped it get massive contracts but in addition made Reliance Infra the biggest non-public  developer in simply four-five years. The authorities may even be digging at how, with out having the required expertise to perform many projects, not one of the Reliance Group corporations reported a dip in market capitalisation over the past 5 years of the UPA.

The Congress has additionally been accusing huge irregularities within the Rafale deal, alleging that the federal government was procuring every plane at a price of over Rs 1,670 crore as in opposition to Rs 526 crore finalised by the UPA authorities for the procurement of 126 Rafale jets. The deal negotiated by the UPA couldn’t be inked. The Congress has additionally been urgent for value particulars of the deal, however the NDA authorities has refused to disclose them citing confidentiality provisions of a 2008 Indo-France pact.

On Thursday, French information web site Mediapart claimed entry to an “internal Dassault document” dated May 11, 2017, the place a “senior member” of the aviation group defined to workers representatives that the three way partnership with its Indian companion, Anil Ambani’s defence agency, was a “counterpart”, “imperative and mandatory” to win the contract for 36 fighter jets. Dassault Aviation, nevertheless, stated it has freely chosen to make a partnership with India’s Reliance Group as a part of offsets in India. Dassault Aviation has dedicated to offsets in India price 50 per cent of the worth of the acquisition.

Edited by Manoj Sharma

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