“This government (NDA) not only wants the profit but also something like Rs 1 Lakh Crore from the reserve of RBI too. This government is greedy. No government in the past had asked for the reserve in RBI,” Chidambaram said on Friday.
The former Union minister here took part in the Congress’ consultation meeting here on preparation of party manifesto for the 2019 Lok Sabha election. The consultation is part of the Congress’ ongoing country-wide exercise to take feedback from the public in the run-up to the manifesto preparation.
Chidambaram said that the BJP government has started treating the RBI as a “limited company.”
“RBI has board of directors, but that cannot be compared to with any private or public company. It is the central bank. Unfortunately, the BJP government is trying to see RBI as a limited company by the former’s eagerness to get the share of reserve in the central bank,” Chidambaram said here on Friday.
He said that the government is after the RBI’s reserve because the former did not get a pie from demonetization after a large portion of the money in the market returned back to the banks.
“My information says that the government may force to pass a resolution at the RBI board meeting to transfer large sum of money from the reserve. Two scenarios can emerge if such a situation happens. Either the RBI gives in or resign. Both the situation will be a disaster and will have catastrophic impact on the country’s economy,” Chidambaram said.
Chidambaram said that the impact would be worse than the demonetisation.
The former Union minister said that like the USA, India too was drifting towards a one-person government that bypassed or belittled institutions.
Terming the GST as fake, Chidambaram said if UPA comes to power would redesign the tax regime for the betterment of the public.
“The GST that was mooted during UPA’s rule was the true GST. The GST in its present form is a fake one. We will give the true GST to the people,” he added.