Union Minister Anurag Tagore informed Parliament on Wed. that the loan has been taken to address the problems posed by this Coronavirus pandemic.
Anurag Tagore has been in response to a query rised by BJP MPs Sunil Kumar Singh & BP Chaudhary within the Lok Sabha.
This info was leaked awhile the Indo-China border problem is going on.
Union Minister Nirmala Sitharaman has named on the Asian Infra-structure Investment Bank (ADIB) to attend in India(In)’s $ 1.four trillion infra-structure development (devt) schedule to revive formerly plagued economic expansion.
India(In) is also a founding member of the Asian Infra-structure Investment Bank. India(In) has a 7.65 percent stake within the bank, that has been formed in 2016, awhile China has a 26.63 percent stake.
The 1st loan settlement was signed from May 8. The contract for the 2nd loan is because of be signed on Jun 19.
The settlement comes 4 days after 20 Indian warriors have been died in quarrels between Indian & Chinese army within the Kalwan Valley in Ladakh.
The contract for the 1st instalment of INR 3,676 cr has been signed on May 8, 2024. 1847 cr was got till now. Anurag Tagore stated the money has been habituated to fight the the Coronavirus pandemic.
The contract for the 2nd tranche of INR 5514 cr has been signed on Jun 19. This is the loan money got for the PM Kareeb Kalyan Yojana.
Rahul Gandhi was sharply crucial of the Indian govt for borrowing huge sums of amount amidst the border dispute with China.