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Modi govt’s ‘financial mess’ triggered RBI’s surplus transfer: Prithviraj Chavan

Chavan also blamed the government of selling the people a 'daydream' of becoming a 5 trillion dollar economy, while saying that in reality, the country's economy was worsening with every passing quarter.

Modi Govt's 'financial mess' triggered RBI's surplus transfer: Fomer Maha CM Chavan Former Maharashtra chief minister Prithviraj Chavan. (Express Photo by Prashant Nadkar)

Modi Government was forced to lay its hands on surplus of Reserve Bank of India (RBI) because of financial mess it landed the country into due to the unnecessary blow it gave to the economy with demonetisation and slowdown caused in the industry due to faulty implementation of Goods and Services Tax (GST), senior Congres leader and former Maharashtra Chief Minister Prithviraj Chavan said on Saturday. Chavan also blamed the government of selling the people a ‘daydream’ of becoming a 5 trillion dollar economy, while saying that in reality, the country’s economy was worsening with every passing quarter.

Chavan was speaking to mediapersons in Pune in the backdrop of, what he described as serious trouble of the country, Gross Domestic Product (GDP) growth sinking down to 5 per cent in the recent quarter.

He also blamed the government – both union and state – of hiding data about various economic indicators as they portrayed an unfavourable picture for BJP government’s performance since 2014.

Chavan said that the union and state government’s flagship schemes namely Make In India and Magnetic Maharashtra, respectively, have miserably failed and despite his best efforts, the state government has not provided it with the data pertaining to these two schemes.

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“It was said that under the Make in India scheme, Maharashtra would get a foreign investment of Rs 8 lakh crore and the industry would create 80 lakh jobs. To know what’s the truth and obtain data about how much of this target has been realised, I met state finance minister as well as industry minister but they did not share any information. I had also filed RTIs to know how much investment and jobs have been created under the scheme in each district, but they have refused to provide information citing weird reasons. The information is a right of every citizen. You can imagine if an MLA and former CM can be refused information, how can a common citizen lay his or her hands on such important information which, ideally, should be public,” said Chavan.

He said that the government had turned a blind eye to the health of industry to such an extent that some industry bodies were forced to issue advertisements in newspapers to invite the attention of the government.

First published on: 31-08-2019 at 04:39:31 pm
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