RBI should bluntly tell govt to take fiscal measures: Chidambaram

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Congress chief P. Chidambaram on Saturday hit out on the authorities following the Reserve Bank of India’s statement that growth in 2020-21 is headed in direction of detrimental territory.

In a sequence of tweets, Mr. Chidambaram questioned RBI Governor Shaktikanta Das on why, realizing properly that demand had collapsed, the apex financial institution was “infusing extra liquidity”.

“He ought to bluntly inform the federal government ‘Do your obligation, take fiscal measures’,” Mr. Chidambaram tweeted. In a jibe on the authorities, he requested if, after the RBI assertion, the federal government would nonetheless laud itself for a “package deal that has fiscal stimulus of lower than 1% of GDP?”

“RSS needs to be ashamed of how the federal government has dragged the economic system into detrimental progress territory,” he mentioned.

The crucial financial parameters have been within the pink even earlier than the nation went right into a lockdown on March 25, the Congress has claimed. Extreme provide aspect measures and only a few demand-driven initiatives had fully derailed the economic system, the social gathering has maintained.

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