Bharatiya Janata Party (BJP) leader and MP Subramanian Swamy in an interview to The Quint’s Sanjay Pugalia said that he handled the crisis when India was debt-ridden during the Gulf War in 1990 and “rescued” the nation from declaring bankruptcy.
In 1990, Chandra Shekhar was the leading a coalition government at the Centre as India’s prime minister and Swamy headed the Ministry of Commerce and Industry.
Rising oil prices, along with massive internal deficit and minimal foreign exchange, had pushed India to the brink of being declared a defaulter.
Speaking to The Quint, Swamy claimed that he was the one who averted the "humiliation” for India.
He claimed that he struck an unusual deal with the United States that needed India’s help with refuelling during the war.
He also credited Shekhar for “consulting him before taking important decisions,” during his tenure as the prime minister.
Watch the full interview here.
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