BJP Govt Pushed Country Into Financial Emergency, Accuses Congress

The Reserve Bank of India had on Monday approved the transfer of a record Rs 1.76 lakh crore dividend and surplus reserves to the government, boosting the BJP-led regime's prospect of stimulating the slowing economy without widening fiscal deficit.

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". (PTI)

New Delhi: 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 on Monday approved the transfer of a record Rs 1.76 lakh crore dividend and surplus reserves to the government, boosting the BJP-led regime's prospect of stimulating the slowing economy without widening fiscal deficit. "RBI's emergency fund is at a six-year low as the BJP government has forcefully taken Rs 1,76,000 crore from the RBI to hide its failures and grave economic slowdown," Congress chief spokesperson Randeep Surjewala tweeted, tagging a media report on the central bank's emergency fund. "The BJP government has pushed the country into a financial emergency," he said. In another tweet, the Congress spokesperson also pointed out to the rising number of bank frauds. "Loot & Scoot' in 'New India' as a complicit BJP govt looks the other way and common man is taxed!" he said. According to the RBI annual report, the number of cases of frauds reported by banks 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.