If Patel resigns, the consequences will be catastrophic, says P Chidambaram

If Patel resigns, the consequences will be catastrophic, says P Chidambaram


According to a report by News agency PTI, former Finance Minister and Senior Congress Leader Mr P Chindambaram said on last Thursday that the BJP government is trying to hijack the Reserve Bank of India and trying to tide over to the governments' economic crisis. Mr P Chindabaram claimed that any such activity can lead to disastrous results.


“The government expects an economic crisis,” said Mr P Chindabaram to the media in a conference in Kolkata. He said, “The government wants to step up the expenditure in an election year. Finding all avenues closed, in desperation, the government has demanded Rs one lakh crore from the reserves of The Reserve Bank of India.”


He said that the centre is trying to impose Section seven of the Reserve Bank of India Act, which will give enough power to the government to dictate the RBI. They then will be able to make their wishes happen even if the governer Urjit Patel refuses to bend down to the Bhartiya Janta Party’s government’s demands. “The day of reckoning is eighteenth of November when the Resrve bank of India board is scheduled to meet,” said Mr P Chidambaram. The former Finance Minister claimed that Mr Modi will try to fill posts in RBI with his favorite people.


Mr Chidambaram also said that if RBI refuses the government and Urjit Patel gives resignation in pressure then the results will be “catastrophic”.


It is not just P Chindabaram who is attacking Narendra Modi and his government on RBI, Congress Supremo Rahul Gandhi and Manish Tiwari are also backimg him. Mr Rahul Gandhi claimed in front of media that our Prime Minister Mr Narendra Modi wants 3.6 lakh crore from Reserve bank of India “to fix this mess Mr Modi’s theories have created”. Congress’ national spokesperson Manish Tiwari also said that the NDA government have always wanted to demolish the Resrve Bank of India.

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