October 25, 2025

The Congress party has exploded in fury! On Saturday, senior leader Jairam Ramesh charged that shocking revelations show the Modi government’s hands deep in a ₹33,000 crore bailout of the Adani Group through the Life Insurance Corporation of India (LIC). He says this is not just a bailout — it’s a "textbook case of mobile phone banking." Why? Because LIC, which protects the savings of 30 crore policyholders, was forced to invest in Adani companies under the government's pressure. Internal documents leaked to the media reveal that officials from the Ministry of Finance and NITI Aayog drafted and fast-tracked this massive LIC investment in May 2025. The official reasons? To "signal confidence in the Adani Group" and to "encourage participation from other investors." But Jairam Ramesh asked sharply, "Under whose pressure did these officials decide their job was to rescue a private firm with serious criminal allegations?" Congress claims this is just the tip of a giant iceberg they call the “Modani MegaScam.” They say agencies like the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and Income Tax Department have been twisted and misused to force other private firms to sell their assets to Adani. For nearly three years, the party has been demanding a full probe by a Joint Parliamentary Committee. Now, as a first step, they insist the Public Accounts Committee (PAC) must launch a thorough investigation into how LIC was essentially bullied into handing over public money. The sting came fast and hard. On 21 September 2024, LIC faced a mind-boggling loss of ₹7,850 crore within just four hours of trading after the US accused Gautam Adani and his associates of wrongdoing. Jairam Ramesh said, "Adani has been accused of orchestrating a ₹2,000 crore bribery scheme to win high-priced solar contracts." Shockingly, the Modi government has refused for almost a year to comply with a US SEC summons for Adani’s conglomerate. But that’s not all. Congress charges that the Modi-Adani partnership rigged the privatisation of airports and ports, benefiting only Adani’s empire. They allege misuse of India’s diplomatic influence to funnel contracts abroad, especially in neighboring countries. Ramesh also pointed to soaring electricity prices caused by over-invoiced coal imports linked to Adani associates, crooked shell companies, and steep power deals in states like Madhya Pradesh, Rajasthan, and Maharashtra. Plus, there was a suspicious ₹1 per acre land grant for a power plant in poll-bound Bihar. Adding fuel to this fiery debate, All India Trinamool Congress MP Mahua Moitra tweeted, “Modi government keeps funding @gautam_adani & the Indian people have to keep bailing him out. Read @washingtonpost expose on ₹30,000 crore LIC bailout for best friend crony billionaire.” The Congress party is now roaring for justice and full transparency. The big question remains: Will the Parliament’s Public Accounts Committee rise to the occasion and uncover the full truth about this grand LIC-Adani drama? Indian citizens watch closely as this political and financial blockbuster unfolds.

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Tags: Lic, Adani group, Jairam ramesh, Modi government, Public accounts committee, Cronyism,