Probe UPA govt’s 80:20 gold scheme, says BJP MP in Lok Sabha

Raising the matter during Zero Hour in Lok Sabha, BJP leader Nishikant Dubey claimed that the scheme caused a loss of Rs 1 lakh crore to the country.

BJP Lok Sabha member Nishikant Dubey on Monday alleged that the previous UPA government had brought the 80:20 gold import scheme to benefit “some business houses” and sought a probe by CBI and the Enforcement Directorate against the former Finance Minister, the then RBI Governor, and Finance Ministry officials who brought in the scheme. Raising the matter during Zero Hour in Lok Sabha, Dubey claimed that the scheme caused a loss of Rs 1 lakh crore to the country.

In August 2013, the UPA had introduced the 80:20 rule, which allowed traders to import gold only after they had exported 20 per cent gold from their previous imports. The rule was scrapped in November 2014 by the NDA government.