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The Indian political landscape is once again witnessing a clash between the ruling Bharatiya Janata Party (BJP) and the opposition Congress, with accusations of political maneuvering and attempts to undermine the country's financial integrity taking center stage. The latest episode centers around the Public Accounts Committee (PAC), a parliamentary body responsible for scrutinizing government finances, and its chairman, K.C. Venugopal, a prominent Congress leader.
BJP MP Nishikant Dubey, a member of the PAC, has leveled serious allegations against Venugopal, accusing him of using his position to defame the government and destabilize India's economy. Dubey's accusations stem from the PAC's decision to summon SEBI Chairperson Madhabi Puri Buch, who has been embroiled in controversy following allegations of professional impropriety by US-based firm Hindenburg Research.
Dubey, in a strongly worded letter to Lok Sabha Speaker Om Birla, claims that Venugopal's actions are part of a larger 'tool kit' orchestrated by forces inimical to India's economic progress. He alleges that countries envious of India's rapid economic growth have sought to tarnish its image by attacking its financial institutions and targeting key figures like the SEBI chairperson. This, according to Dubey, is a calculated attempt to undermine India's rise as a global economic powerhouse.
The BJP MP further argues that the PAC's decision to summon Buch is politically motivated and not in line with its mandated responsibilities. He asserts that the committee's actions are being guided by the Congress's desire to discredit the government and damage its economic standing. Dubey also highlights that the CAG, the body responsible for auditing government accounts, has not released any report on Buch's conduct, indicating that the SEBI chief's involvement does not fall under the purview of the PAC.
This latest clash between the BJP and the Congress underscores the deep political divides that exist in India's parliamentary system. With the BJP holding a majority in the PAC, the committee's future actions on the SEBI chairperson are likely to be met with resistance. The coming weeks are expected to see heated exchanges and heightened political tensions as both parties engage in a battle for control over the PAC and its ability to investigate the allegations against Buch. The outcome of this confrontation could have significant implications for India's financial system and its broader economic prospects.
Source: Congress’ Venugopal working to defame Centre: Nishikant Dubey tells Lok Sabha Speaker