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India is a founding member of AIIB, and Modi govt has every right to borrow money from it

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What do political opportunists in the opposition ranks do, when they can’t fault the government? They start grabbing attention with one-liners or so-called ‘witty’ jibes. So, the latest piece of senseless propaganda being passed around is that the Modi government took a loan from a ‘China-sponsored’ Bank- the Asia Infrastructure Investment Bank (AIIB).

Of course, accuracy is being compromised for the sake of sensationalism here. None of the enraged critics seems to care about how AIIB isn’t a Chinese Bank or a Chinese development agency. In fact, it is a multilateral institution with 103 countries and India itself is the second-largest shareholder in this multilateral body.

It all started with The Telegraph report, titled, “China loan horse without a mouth,” which stated that India borrowed a sum of $750 million from the AIIB. The Telegraph further reported, “Narendra Modi government has formally confirmed that India took two loans totalling $1,350 million (Rs 9,202 crore) from the China-controlled Bank in the thick of the border standoff.”

AIIB, China, India

The Telegraph then tried to take a dig at the Modi government by claiming, “Action of delinking the government’s financial transactions from bilateral tensions goes against the Centre’s policy of cracking down on Chinese business relationships in India. Besides, the Indian external affairs ministry has been asserting that it cannot be business as usual in the face of Chinese attempts to unilaterally change the facts on the ground along the border.”

Soon the entire left-liberal ecosystem was up in arms. INC legislators, journalists and the rest of the leftist political spectrum came together to ask- Why the Modi government took loan from the AIIB? To somehow create a narrative, the AIIB is now being described as a ‘Beijing-based Bank’, ‘China-sponsored Bank’ and INC leader Randeep Singh Surjewala even called it a ‘Chinese government Bank’. And let’s not even talk about what Rahul Gandhi, the perpetual Prime Minister-in-waiting had to say about the AIIB loan.

 

 

 

 

 

Now, we at TFIPOST also have a question. We want to ask the distinguished economists of the leftist ecosystem- why should India not borrow from the AIIB? China may be the largest shareholder but India is also the second-largest shareholder in this multilateral development Bank.

Let us check some numbers- China does have a 26 per cent stake in the multilateral bank, but the rest of the stake is owned by more than 100 countries. India itself has an 8.7% share in AIIB, being the second-largest investor with a mammoth 8.4 billion Dollars stake. Also, India is a founding member of the Asia Infrastructure Investment Bank.

Now that India has played its role in giving birth to this Development Bank, why shouldn’t it avail cheaper loans from the AIIB for fuelling its own development? India has a deep and inalienable interest in the AIIB and India’s Union Finance Minister also sits on the Bank’s Board of Directors.

 

So, if we may do a little fact-check, the AIIB is neither a Chinese agency nor a China-controlled bank. And it is certainly not a China-sponsored bank. AIIB is just another infrastructure development Bank, and it isn’t very different from the World Bank or the Asia Development Bank.

By borrowing from a multilateral institution, India didn’t really borrow Chinese money. And what is the deal with the AIIB’s Beijing headquarters? How does that make the multilateral Bank Chinese, especially when as many as 103 countries are members of this multilateral body?

Even the World Bank is headquartered in Washington, does that make it an American institution? For decades, India and China have borrowed heavily from the World Bank. China still borrows indiscriminately from the World Bank though it doesn’t really need such soft loans. The US still has a 17.25 per cent stake in the World Bank, yet China hasn’t stopped borrowing from the multilateral body.

Beijing still benefits out of the World Bank notwithstanding China’s endless disputes with the democratic world. So, why should India stop borrowing from the AIIB to fuel its own development?

Just because a few Sinophiles think that the AIIB is a Chinese bank, Beijing doesn’t gain ownership of the AIIB. New Delhi has every right to develop its infrastructure by availing soft loans from the AIIB. And in doing so the Modi government is neither buying Chinese money nor is it legitimising China.



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Shashi Tharoor, Rajdeep Sardesai, many others go SC immediately after multiple FIRs about phony news

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Shashi Tharoor, Rajdeep Sardesai, others move SC after multiple FIRs over fake news

Days after several First Details Stories (FIRs) were filed versus Congress chief Shashi Tharoor, ‘journalist’ Rajdeep Sardesai and many others for spreading bogus news through the Republic Day riots, they have now approached the Supreme Courtroom searching for aid in the scenario.

As for each studies, they were being booked for spreading the pretend information that a person protestor was shot useless by Delhi Police all through the tractor rally on Republic Working day. Even so, in actuality, the victim had died right after his tractor overturned in an incident. Rajdeep Sardesai had tweeted the bogus news on Twitter, and later experienced recurring the same on India Now, declaring that bullet injury was observed on the head of the deceased. Shashi Tharoor experienced also circulated the phony news, which experienced instigated the protestors to indulge in violence.

In addition to Tharoor and Sardesai, instances ended up lodged towards Congress mouthpiece Countrywide Herald’s Senior consulting editor Mrinal Pandey, Quami Awaz editor Zafar Agha, Caravan magazine’s editor and founder Paresh Nath, Caravan editor Anant Nath and its executive editor Vinod K Jose, and one particular unnamed particular person. Quite a few fees were being pressed towards them below Indian Penal Code (IPC) Sections 120B (felony conspiracy), 153 (provocation to lead to riot), 504 (intentional insult to provoke breach of peace) and 505-1b (intent to result in fear to the public).

Various FIRs in opposition to Rajdeep Sardesai, Shashi Tharoor in UP, Delhi, MP

On Saturday, the Delhi Police submitted a circumstance against journalist Rajdeep Sardesai, Congress leader Shashi Tharoor and 6 some others in link to the violence on the occasion of India’s 71st Republic Working day. As for each reviews, the To start with Info Report (FIR) was lodged at the IP Estate police station. Whilst talking about the situation, DCP (Central Delhi) Jasmeet Singh explained that the FIR was registered for developing disharmony and spreading false information on Republic Working day about a farmer dying thanks to law enforcement firing.

The Madhya Pradesh Police, also, had filed an FIR towards Tharoor and 6 some others for fake information on the demise of the rioter who died immediately after his tractor turned turtle. UP Police has also lodged a related FIR from the accused under sections 153(A), 153(B), 295(A), 298, 506, 505(2), 124(A)/34/120(B) of the Indian Penal Code, and less than portion 66 of the Details Engineering act.

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