With Reserve Bank of India (RBI) Deputy Governor Viral Acharya resigning from his position at the central bank, the Congress on Monday hit out at the BJP-led government, saying his resignation shows that there is a culture of disrespecting expertise and talent under the current regime. The Opposition party also targeted the government over the rising number of wilful defaulters.
“Even though the BJP has got a renewed mandate, India’s economic woes continue to simmer. The tremors of the massive mishandling of the economy in the past five years under a government which mastered the art of disruptive economic policy measures are still being felt. As the country is staring at a below average monsoon and reeling under a severe water crisis, private investment in India is also taking a huge hit, thereby deepening the economic woes of our people,” Congress communication department head Randeep Surjewala said.
He argued that the number of wilful defaulters in nationalised banks has increased by over 60 per cent in the last five years. Citing the figures of a credit information company, Surjewala claimed that the amount involved in wilful defaults had soared by Rs 1,21,700 crore from Rs 39,504 crore in March 2014, adding that India’s largest public sector bank, the State Bank of India, alone accounted for Rs 39,471 crore of wilful defaults as of December 2018. “This alone is a surge of a whopping 308 per cent,” he said.
On the resignation of RBI Deputy Governor Acharya six months before his term was to end, Surjewala said he had added his name to the long list of experts who attempted to show the “mirror of truth” to the BJP regime. “Four Economic Advisors, two RBI Governors and a Niti Aayog VC have resigned earlier! This only proves that under the current BJP regime, there is a culture of disrespecting expertise, as also talent. BJP govt only needs yes men and puppets — not experts wizards,” he said in a statement.