Jairam Ramesh Hits Out at Modi Government Over RBI Payout of Rs 1.76 Lakh Crore to Centre, Says Govt 'Usurps Huge Windfall'

New Delhi, August 27: A day after Reserve Bank of India announced a record payout of Rs. 1.76 lakh crore to the government from its surplus and reserves, former Union minister and senior Congress leader Jairam Ramesh hit out the ruling dispensation. He said that central government now "usurps a huge windfall" from the RBI and breached the fort.

Expressing his opinion on the latest decision by RBI, Ramesh took to twitter and commented, "Urjit Patel & Viral Acharya held the fort. They were forced to leave. The fort was breached. The Govt of India now usurps a huge windfall from the RBI going contrary to what the central bank's own think tank CAFRAL had said. Fiscal breathing space but at what and whose cost?" RBI to Transfer Rs 1.76 Lakh Crore of Surplus Reserves to Centre as Per Bimal Jalan Panel Guidelines

Here's the tweet:

Urjit Patel & Viral Acharya held the fort. They were forced to leave. The fort was breached. The Govt of India now usurps a huge windfall from the RBI going contrary to what the central bank's own think tank CAFRAL had said. Fiscal breathing space but at what and whose cost?

— Jairam Ramesh (@Jairam_Ramesh) August 27, 2019

The above comment from the former rural development minister arrived after an expert committee, chaired by former Governor Bimal Jalan, made its recommendations to the central bank.

Reacting to this latest development, Congress leader Rahul Gandhi had alleged that the move was the same as "stealing from the RBI". He took to Twitter and wrote, "PM and FM are clueless about how to solve their self created economic disaster. Stealing from RBI won't work - it's like stealing a Band-Aid from the dispensary & sticking it on a gunshot wound." Rahul Gandhi Slams Government Over Rs 1.76 Lakh Crore Surplus Transfer, Says ‘PM and FM Clueless on Economic Disaster, Stealing From RBI’

Earlier, the RBI declared to release an amount of Rs 1.76 lakh crore to the Centre after Finance Minister Nirmala Sitharaman announced a range of measures to push economic growth of India. The significant announcements include forgoing additional surcharge on foreign portfolio investments (FPI) and immediate injection of Rs 70,000 crore into state-run banks.

(The above story first appeared on LatestLY on Aug 27, 2019 02:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).