Skip to main content

GIFT city: Gujarat govt move to bail out IL&FS "anti-constitutional", says ex-BJP CM

By A Representative
Former BJP chief minister Suresh Mehta, in a letter to Gujarat CM Vijay Rupani, has said that the state government is trying to bail out IL&FS, which has become "heavily debt ridden" as a result of its involvement in the state-sponsored Gujarat International Finance Tec-city (GIFT).
Referring to media reports which said that the state government has given "in principle" clearance to buy up IL&FS' 50% stakes in GIFT (in which the state owns 51% of stakes, while the rest are owned by IL&FS), Mehta said, "The decision to have the GIFT project was suspicious right from the very beginning."
Insisting that the state government cannot spend people's hard-earned money to bail out a private company like this, Mehta insisted, it is "anti-constitutional" for the state government to go ahead with the deal without Gujarat state assembly's nod.
Earlier this week, Rupani had announced, Gujarat would buy out the 50% stakes of the beleaguered IL&FS in GIFT City to ensure there are "no delays" in the project.

Comments

Post a Comment

NOTE: Hateful, abusive comments won't be published. -- Editor

TRENDING

Incarceration of Prof Saibaba 'revives' the question: What is crime, who is criminal?

By Kunal Pant* In 2016, a Supreme Court Judge asked the state of Maharashtra, “Do you want to extract a pound of flesh?” The statement was directed against the state for contesting the bail plea of Delhi University Professor GN Saibaba. Saibaba was arrested in 2014, a justification for which was to prevent him from committing what the police called “anti-national activities.”
Post a Comment
»

If Maoist violence is illegitimate, how is Hindutva, state violence justified? Can right-wing wash off its sins?

By Swami Agnivesh* and Sandeep Pandey** There was major police action against Sudha Bhardwaj, Gautam Navlakha, Varvara Rao, Vernon Gonsalves and Arun Ferreira on 28 August, 2018. Before this police arrested Professor Shoma Sen, Adocate Sudhir Gadling, Sudhir Dhawle, Mahesh Raut and Rona Wilson on 6 June. Even before this Dr. Binayak Sen, Soni Sori, Ajay TG, Professor GN Saibaba and Prashant Rahi have been arrested and all these activists have been accused of having links with Maoists.
Post a Comment
»

Caste 'continues to influence' hiring, wages, migration patterns in India

By Rajiv Shah  A recent academic study has highlighted how caste and social identity continue to shape employment opportunities, wages and access to secure livelihoods in India, even as the country projects itself as one of the world’s fastest-growing economies. The findings, published in the 2026 Springer volume Unequal Opportunities: An Analysis of Inequalities in Employment Opportunities Among Different Social Groups in Labor Markets of India , argue that structural discrimination remains embedded in both formal and informal labour markets. 
Post a Comment
»