National

RBI should bluntly tell govt to take fiscal measures: Chidambaram

P. Chidambaram

P. Chidambaram  

Congress leader slams govt following central bank’s statement that growth is headed towards negative territory

Congress leader P. Chidambaram on Saturday hit out at the government following the Reserve Bank of India’s statement that growth in 2020-21 is headed towards negative territory.

In a series of tweets, Mr. Chidambaram questioned RBI Governor Shaktikanta Das on why, knowing well that demand had collapsed, the apex bank was “infusing more liquidity”.

“He should bluntly tell the government ‘Do your duty, take fiscal measures’,” Mr. Chidambaram tweeted. In a jibe at the government, he asked if, after the RBI statement, the government would still laud itself for a “package that has fiscal stimulus of less than 1% of GDP?”

“RSS should be ashamed of how the government has dragged the economy into negative growth territory,” he said.

The critical economic parameters were in the red even before the country went into a lockdown on March 25, the Congress has claimed. Excessive supply side measures and very few demand-driven initiatives had completely derailed the economy, the party has maintained.

A letter from the Editor


Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jun 6, 2020 3:43:24 PM | https://www.thehindu.com/news/national/rbi-should-bluntly-tell-govt-to-take-fiscal-measures-chidambaram/article31657009.ece

Next Story