Image Source : PTI Nirmala Sitharaman slams Rahul Gandhi over RBI money transfer

Hitting out at Congress leader Rahul Gandhi over the government borrowing money from the Reserve Bank of India, Union Finance Minister Nirmala Sitharaman Tuesday said the Congress was an "expert on stealing". Addressing a press conference, the finance minister accused the Congress of maligning the reputation of the Reserved Bank of India.

"Rahul Gandhi says chor [thief], I won't say the same word. The Congress is stuck with the chor tag, they are experts in using this word. I would have wanted Congress to not sully RBI's reputation," Finance Minister Nirmala Sitharaman said.

"This was a committee appointed by RBI, outlandish is the word that I will use for the way comments are being made on RBI's reputation. It is worrying that a committee appointed by RBI experts is now being questioned," Nirmala Sitharaman exclaimed.

Rahul Gandhi had slammed the Central government Tuesday, over the record cash transfer by the RBI.

The prime minister and the finance minister are "clueless" about solving the "self-created economic disaster" and accused them of "stealing money" from the Bank, Rahul Gandhi had said.

He said the move was like stealing a Band-Aid from the dispensary and sticking it on a gunshot wound.

Gandhi's reaction came after the RBI allowed the government to take Rs 1.76 lakh crore from its reserves to provide a fresh impetus to the economy.

"PM and FM are clueless about how to solve their self created economic disaster," he charged on Twitter.

"Stealing from RBI won't work - it's like stealing a Band-Aid from the dispensary and sticking it on a gunshot wound," Rahul Gandhi had said.

The Reserve Bank of India (RBI) on Monday approved the transfer of record Rs 1.76 lakh crore dividend and surplus reserves to the government, boosting Prime Minister Narendra Modi-led regime's prospect to stimulate the slowing economy without widening the fiscal deficit.

Governor Shaktikanta Das-led RBI central board gave its nod for transferring to the government a sum of Rs 1,76,051 crore comprising Rs 1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF), the apex bank said in a statement.

The excess reserve transfer is in line with the recommendation of former RBI governor Bimal Jalan-led panel constituted to decide the size of capital reserves that the central bank should hold. The government was represented by Finance Secretary Rajiv Kumar in the panel which finalised its report on August 14 by consensus.

The receipts from the RBI will give a fillip to the government's efforts to boost the economy from a five-year low.

Also Read | 10 things to know from Nirmala Sitharaman's BIG push to economy

Also Read | Rupee posts biggest single-day gain in 5 months on RBI dividend

Video: India's growth rate higher in comparison with many countries, says Nirmala Sitharaman

Latest Business News

Fight against Coronavirus: Full coverage