Govt ‘appropriated’ 99% of RBI’s profits since 2014: Sitaram Yechury on cash transfer
PTI, Aug 27, 2019, 1:29 PM IST
New Delhi: CPI(M) general secretary Sitaram Yechury hit out at the Centre on Tuesday over the record cash transfer by the RBI, alleging that the government had “appropriated” 99 per cent of the profits of India’s central banking institution since 2014.
The Left leader’s reaction came a day after the Reserve Bank of India (RBI) 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 to stimulate the slowing economy without widening fiscal deficit.
“The health of our leading Navaratnas in the public sector is badly damaged by both, falling demand and because of the financial burden imposed on them by the govt. siphoning off huge dividends. All sections, farmers, workers, MSMEs, youth and women workers have been hurt badly,” Yechury said in a tweet.
“The economy and people’s livelihoods have never been assaulted so mercilessly as under this government,” the Communist Party of India (Marxist) leader said. The RBI’s move has kicked up a political storm.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Nifty, Sensex rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
IndiGo, Air India plan to purchase up to 170 wide-body planes in little over a year
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
Four-day market rally makes investors richer by Rs 8.48 lakh crore
Kotak Bank barred from onboarding customers online, issuing fresh credit cards
MUST WATCH
Latest Additions
Bantwal: Man injured in stabbing incident
Akhilesh Yadav accuses BJP of job losses and employment failure
Mangaluru: Pavoor Uliya residents overcome obstacles, reach polling stations by boat
Tejasvi Surya booked for soliciting votes on grounds of religion: EC
Mangaluru: Island residents use boats to reach polling stations