New Delhi, Dec 9 (IANS): Terming it a scam, Congress on Friday accused the BJP government in Gujarat and the Narendra Modi-led Central government of misspending Rs 10,651 crore worth foreign exchange in the Gujarat State Petroleum Corporation (GSPC) and demanded a Supreme Court-monitored inquiry by the CBI in the matter.

The party also called it a "Gujarat model of Corruption."

"Latest revelations in the GSPC scam have revealed reports of misspending of Rs 10,651.80 crore of foreign exchange. This is evident from the examination of the accounts of the GSPC between 2006-07 and 2015-16," Congress spokesperson Ajoy Kumar told media persons.

"What is striking is that the spending of this foreign exchange is not explained in the profit and loss account of the GSPC. The question is where did this money go?" he asked.

The Congress demanded a CBI inquiry monitored by a Supreme Court judge in the alleged scam.

"Just Rs 372.32 crore expenditure in foreign exchange was mentioned in the accounts of GSPC in the category of miscellaneous expenses. Can such a huge amount spent from the state exchequer be put in the category of 'miscellaneous expenses'," he asked.

"The sudden increase in expenditure in foreign currency in the GSPC accounts reeks of a conspiracy," he added.

According to the party, in the year 2008-09, the amount of foreign exchange spent has been shown to be Rs 175 crore and it increased to Rs 208 crore in 2009-10.

In 2012-13, the amount of expenses in foreign currency was shown as Rs 472 crore, which increased to Rs 622 crore the next year, Rs 614 crore in the following year before suddenly increasing to Rs 1,667 crore next year.