BJP govt’s Rafale deal costlier by €246.11 mn than UPA’s due to lack of bank guarantees from France

The Congress on Wednesday wasted no time in reiterating its “chowkidaar chor hai” chant after The Hindu published another report saying that the NDA Rafale deal was €246.11 million more expensive than the deal which UPA-I had struck due to lack of bank guarantees.

“No bank guarantees needed because of AA se dosti nibhani padegi. So what if we Indians have to pay more to Dassault to acquire Rafale jets. #ChowkidarHiChorHai,” Congress spokesperson Priyanka Chaturvedi tweeted early on Wednesday, referring to the offset contract in the deal being granted to Anil Ambani’s Reliance Defence.

“No bIn an exclusive report The Hindu wrote that the lack of bank guarantees from France made the cost of the Rafale deal negotiated by the BJP-led NDA government more expensive by €246.11 million (around Rs 1,962 crore). The article said that the seven-member Indian Negotiating Team (INT), in its final report submitted to the Defence Ministry on 21 July, 2016, had estimated the cost of loading bank guarantees, “which the French commercial suppliers with backing from the French government refused to do”, as €574 million (approximately Rs 4,574 crore), making the €7.87-billion (around Rs 62,712, crore) deal signed on 23 September, 2016, for the aircraft and weapons packages significantly more expensive than what the UPA government had negotiated.

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