BJP MP seeks CBI, ED probe into UPA's 80:20 gold import scheme

A BJP member in the Lok Sabha today demanded a probe by the CBI and the Enforcement Directorate against then Finance Minister, then RBI Governor and finance ministry officials who brought in the 80:20 gold import scheme launched during the UPA rule.

Raising the matter during Zero Hour in the Lok Sabha, Nishikant Dubey said the scheme was brought in to benefit "some business houses" and had caused a loss of Rs one lakh crore to the country.

"I urge the government to launch an inquiry in the 80:20 scheme, lodge an FIR and order CBI and ED inquiry on the then Finance Minister, RBI Governor, Economic Affairs Secretary and Financial Services Secretary to bring out the scam," he said.

In August 2013, the then UPA government had introduced the 80:20 rule which allowed traders to import gold only after they had exported 20 per cent gold from their previous imports.

The rule was scrapped in November 2014 after the NDA came to power.