‘RBI’s Rs 1.76L crore funding will be used after planning’

Sushant Ranjan
Wednesday, 28 August 2019

“Questioning the credibility of the RBI, which had constituted the Bimal Jalan Committee on determining the excess capital, is a ‘worrying’ sign. The committee has eminent people as its members and making any allegations is outlandish,” Sitharaman said.

PUNE: Union Finance Minister Nirmala Sitharaman on Tuesday said that Rs 1.76 lakh crore transferred by the Reserve Bank of India (RBI) will be used after planning and details regarding the same it will be provided in time. However, the finance minister did not answer questions about the Central government’s further action regarding the funds. Sitharaman was speaking to the media on her one-day visit to the city. 

Sitharaman held a meeting with around 86 members of small, big, micro and nano traders’ bodies. The issues related to GST form simplification and deadlines were also discussed during the meeting.

After the funds transferred by RBI, the Congress had alleged that the Centre was ‘stealing RBI’s reserves’. 

The FM said she did not care about such charges. 

Congress leader Rahul Gandhi had earlier hit out at the Centre over the record cash transfer from the RBI.

Gandhi had earlier said that the prime minister and the finance minister are ‘clueless’ about solving the ‘self-created economic disaster’ and accused them of ‘stealing money’ from the RBI.

“Questioning the credibility of the RBI, which had constituted the Bimal Jalan Committee on determining the excess capital, is a ‘worrying’ sign. The committee has eminent people as its members and making any allegations is outlandish,” Sitharaman said.

When asked about suggestions to reduce GST rates, she pointed out that only the GST Council has the jurisdiction to reduce them.

FM MEETS TRADERS
The FM met city traders, along with Minister of State (MoS) for Finance Anurag Thakur, Revenue Secretary Dr Ajay Bhushan Pandey, CBDT Chairman Pramod Chandra Mody, CBIC Chairman Pranab Kumar Das, CGST Pune Chief Commissioner V Seshagiri Rao and Income Tax Pune Principal Chief Commissioner Anuradha Bhatia.

Related News

​ ​