Hindustan Times ST (Mumbai) - Live
Centre has nothing to do with Adani issue: Minister
Saubhadra Chatterji and Smriti Kak Ramachandran
NEW DELHI: The Union government on Friday distanced itself from the controversy around the Adani Group and an American short-seller’s report accusing the conglomerate of “brazen stock manipulation and accounting fraud scheme”.
Addressing the media outside Parliament, Union parliamentary affairs minister Pralhad Joshi said, “The (Union) government has nothing to do with this (Adani Group issue) ... The Opposition is disrupting the House as it has no other issues.”
Joshi’s remarks came after the ruling BJP asked its rank and file to steer clear of the controversy and focus on the Union Budget presented on Wednesday.
Union finance minister Nirmala Sitharaman, too, spoke on the issue on Friday, saying in a TV interview that Indian markets were “well regulated” and she did not expect the controversy around Adani to affect investor confidence.
India remained “an absolutely well governed” country and a “very well regulated financial market”, Sitharaman told News18. “One instance, however much talked about globally, I would think is not going to be indicative of how well Indian financial markets have been governed,” Sitharaman said.
Adani has denied the report by the American investor group, Hindenburg Research.
On Friday, no business could be transacted as both Houses of Parliament were adjourned with the Opposition joining ranks to demand a discussion on the report that has accused the group of financial wrongdoings.
According to a senior leader, the ruling party does not want to be dragged into the issues related to the Adani Group and will instead focus on publicising the various measures and reliefs announced in the Union Budget 2023-24.
A senior leader, who asked not to be named, said: “Earlier, when the BJP in Opposition tried to raise allegations against a relative of the Gandhi family, the ruling Congress maintained he is a private businessman.”
Senior Lok Sabha officials indicated that any direct reference to Adani Group or any other private enterprise will not be allowed in Parliament as rules are in place. They said some of the notices of adjournment motion were rejected as it referred to a private entity run by people who are not members of Parliament. “The Parliamentary rules are very clear. You can’t name any person who is not a member of the House,” said a senior functionary.
A senior Opposition leader said that during the debate, the focus will remain on the impact of the row on State Bank of India and the Life Insurance Corporation of India, two public sector firms that have exposure to Adani Group. “SBI and LIC were formed by laws of Parliament. We, the lawmakers, have every right to discuss the situation of SBI and LIC in the context of the current situation. Moreover, millions of common people’s hard-earned money is deposited in these two financial institutions,” the leader said, asking not to be named.
The government is keen to start the debate on the President’s speech, with only five working days left in the first half of the current session. “The first half of the session is most likely to be closed on February 10. We have just five working days to complete the two debates on the President’s speech and the budget,” said a senior functionary.
Prime Minister Narendra Modi is scheduled to reply to the debate of President’s speech in the Lok Sabha on February 14. But with the debate yet to start, the schedule for his reply will be reviewed.