Arun Jaitley uses K V Thomas' letter to counter Rahul Gandhi over IL&FS

The government may consider supporting IL&FS in the following areas - such as LIC, SBI to support IL&FS to provide equity and debt of Rs 80 billion

A day after Congress President Rahul Gandhi questioned the government's alleged move to ask LIC to bail out the IL&FS, Finance Minister Arun Jaitley on Monday posted a letter written by Congress leader K V Thomas requesting the government to infuse money in the beleaguered company. 

“The government may consider supporting IL&FS in the following areas —  guide institutional areas such as LIC, SBI, HDFC to support IL&FS to provide equity and debt of Rs 80 billion requested by the company," the letter by Thomas to Jaitley said.

Jaitley sought to know from where Gandhi invented a proposal of Rs 910-billion investment. "In fact, it is the section of the Congress leadership which has been urging me to enable investments in the IL&FS and save the company. Thomas, who is a former Union minister and has been the chairman of the Public Accounts Committee, had written to me on September 20, making such a request." Gandhi had on Sunday asked PM Narendra Modi as to why was he was so keen to use LIC to save IL&FS, “his favoured company” that is set to run aground.