New Delhi: A day after the Reserve Bank of India (RBI) approved a transfer of Rs. 1.76 lakh crore to the exchequer, Congress leader Rahul Gandhi today came down heavily on the government. Taking to Twitter, Gandhi said Tuesday that the Prime Minister and the Finance Minister were “clueless” as to how to revive the economic slowdown.
Drawing an analogy, Rahul said that “stealing” from the central bank was like using a band-aid on a gunshot wound.
“PM & FM are clueless about how to solve their self created economic disaster. Stealing from RBI won’t work – it’s like stealing a Band-Aid from the dispensary & sticking it on a gunshot wound. #RBILooted,” Gandhi tweeted.
Another Congress leader Randeep Singh Surjewala called the move a “fiscal harakiri”, and asked whether it was sheer coincidence that the Rs 1.76 lakh crore borrowed by the RBI matches with the “missing amount in the Budget calculation”.
The Central Board of the Reserve Bank of India on Monday accepted the Bimal Jalan panel recommendations and decided to transfer Rs 1.76 lakh crore in dividend and surplus reserves to the Government of India.
The Central Board has decided to transfer a sum of Rs 1,76,051 crore to the Government of India comprising of Rs 1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF) adopted at the meeting of the board on Monday.
“The surplus transfer includes Rs 1,23,414 crore in surplus for the year 2018-19 (of which Rs 28,000 crore has already been paid as interim dividend), and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF) adopted at the meeting of the Central Board today,” a statement from the central bank said.