BJP has pushed the country into a financial emergency: Congress

New Delhi | The Congress on Friday has hit out at the Modi government for “forcefully taking” money from the RBI, and claimed that they have pushed the country into a financial emergency.

The Reserve Bank of India had on Monday approved the transfer of a record Rs 1.76 lakh crore dividend and surplus reserves to the government, boosting the BJP-led regime’s slowing economy without widening the fiscal deficit.

“RBI’s emergency fund is at a six-year low as the BJP government has forcefully taken Rs 1,76,000 crore from the RBI to hide its failures and grave economic slowdown,” Congress chief spokesperson Randeep Surjewala tweeted, tagging a media report on the central bank’s emergency fund.

“The BJP government has pushed the country into a financial emergency,” he said.

RBI का ‘इमरजेंसी फ़ंड’ गिर कर 6 साल के निचले स्तर पर क्योंकि अपनी नाकामियों व घोर आर्थिक मंदी को छुपाने के लिए भाजपा सरकार ने ज़बरन RBI के ₹1,76,000 करोड़ लिए।

भाजपा सरकार ने देश को ‘आर्थिक आपातकाल’ में धकेल दिया है। pic.twitter.com/vR9zA620JU

— Randeep Singh Surjewala (@rssurjewala) August 30, 2019

In another tweet, he shared more media reports and wrote, “Bank Frauds up by 74%! 2017-18 – ₹41,167 Cr 2018-19 – ₹71,542 Cr ‘Loot & Scoot’ in ‘New India’ as a complicit BJP Govt looks the other way and the common man is taxed!”.

According to the RBI annual report, the number of cases of frauds reported by banks saw a jump of 15 per cent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 per cent to Rs 71,543 crore from Rs 41,167 crore reported in the previous fiscal.