BJP govt pushed country into financial emergency: Congress spokesperson

Published: Aug 30, 2019, 10:12 IST | mid-day online correspondent

Surjewala’s accusation comes after the Reserve Bank of India approved the transfer of Rs 1.76 lakh crore dividend and surplus reserves to the government on Monday

A file picture of a security woman guards at the RBI headquarters in Mumbai. Pic/PTI
A file picture of a security woman guards at the RBI headquarters in Mumbai. Pic/PTI

The Congress on Friday accused the BJP government of forcefully taking Rs 1.76 lakh crore from the RBI to hide a "grave" economic slowdown and claimed that it had pushed the country into a "financial emergency".

The Reserve Bank of India had reportedly approved the transfer of a record Rs 1.76 lakh crore dividend and surplus reserves to the government on Monday that boosts the government’s prospect of stimulating the slowing economy without widening fiscal deficit.

Congress chief spokesperson Randeep Surjewala tweeted saying that RBI's emergency fund is at a six-year low and alleged the government of forcefully taken Rs 1.76 lakh crore from the RBI to “hide its failures and grave economic slowdown”, tagging a media report on the central bank's emergency fund.

Also Read: RBI's cash transfer decision creates battle between BJP and Congress

He also alleged the government of pushing the country into a financial emergency," he said. In another tweet, the Congress spokesperson also pointed out to the rising number of bank frauds under the BJP-led regime.

The RBI annual report shows the number of cases of frauds reported by banks that saw a jump of 15 per cent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 per cent to Rs 71,543 crore from Rs 41,167 crore reported in the previous fiscal.

With inputs from PTI

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