Senior Congress leader Anand Sharma slams RBI move to transfer Rs 1.76 lakh crore to government

Saying that most major industrial sectors are in trouble, the Congress leader said that the demand in many of the sectors has reduced and hence the output.

Published: 27th August 2019 03:55 PM  |   Last Updated: 27th August 2019 04:13 PM   |  A+A-

Congress leader Anand Sharma (File photo | PTI)

By Express News Service

NEW DELHI: Former Union Minister and Congress spokesperson Anand Sharma on Tuesday took on the Centre over its decision to get a Rs 1.76 lakh crore payout from the Reserve Bank of India (RBI) due to the current economic slowdown.

“By taking money from the RBI, the government is pushing the country towards a financial emergency. The state of the economy today is a result of the wrong policies of the Modi government, which does not want to discuss this crisis. However, the trouble cannot hide for too long,” he said.

The Congress leader said what the Congress had warned people about has been confirmed now. “The economy of the country is crippled and the GDP is constantly falling,” he said while addressing the media.

ALSO READ: How will the government spend Rs 1.76 lakh crore RBI windfall?

Saying that most major industrial sectors are in trouble, the Congress leader said that the demand in many of the sectors has reduced and hence the output.

“People are not able to avail loans to buy vehicles due to the slowdown in the auto sector,” he said and added that exports have come to a standstill and there has been no growth in the exports.

Sharma slammed the Centre for its inability to have enough funds to boost investment. “Even then, the 2018-19 Budget was cut by around Rs 1.5 lakh crore,” he said.

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