Rahul Gandhi has alleged that PM Modi needs Rs 3.6 lakh crore from RBI surplus to fix the ‘mess his genius economic theories have created’.
Gandhi’s comment came after Finance Ministry sent a proposal to RBI seeking the transfer of a surplus of Rs 3.6 lakh crore, more than a third of the total Rs 9.59 lakh crore reserves of the central bank, to the government.
Gandhi also urged Reserve Bank Governor Urjit Patel to “stand up” to the Prime Minister and “protect the nation”.
“Rs 36,00,00,00,00,000. That’s how much the PM needs from the RBI to fix the mess his genius economic theories have created. Stand up to him Mr Patel. Protect the nation,” he tweeted.
According to The Indian Express, “The differences between the government and the central bank became public after RBI Deputy Governor Viral Acharya said the government should not interfere with the central bank’s autonomy.”
The governments that do not respect central bank independence will sooner or later incur the wrath of financial markets,” said Acharya. He had also said how a transfer of excess reserves from a central bank to the government can be “catastrophic” and may ignite “economic fire”.
