Nirmala Sitharaman English news | Nirmala Sitharaman, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Earlier in the day Gandhi in a tweet said that the Prime Minister and the Finance Minister are "clueless" about how to solve their self-created economic disaster. "Stealing from RBI won't work - it's like stealing a Band-Aid from the dispensary & sticking it on a gunshot wound #RBILooted".Later Finance Minister Nirmala Sitharaman hit out at criticism of the Bimal Jalan panel's recommendations and said that any questions raised about the Reserve Bank of India's credibility in the wake of Jalan panel's report is "outlandish"."The Bimal Jalan committee had eminent experts in it. It was constituted by the RBI itself and not by the government. They have had several sittings and have come out with a formula to look at the excess capital framework. Now any suggestion about the credibility of RBI, therefore, for me seems a bit outlandish considering the committee was appointed by RBI themselves", she told reporters in Pune following a meeting with income tax officials."Its very worrying that a committee appointed by the RBI of experts who have had several meetings and have come out with a formulation is now being questioned," she added.Congress spokesperson Randeep Singh Surjewala also took to twitter for criticising the recommendation. "Modi 2.0 has converted the 'R' in RBI from 'Reserve' to 'Ravaged'! Contingency Reserve of RBI meant for extreme financial emergencies & war-like situations is being used by BJP Govt to bury its monumental mess on economic front! BJP has finished RBI's credibility," Surjewala tweeted.On Monday, the RBI central board accepted the recommendations of the Bimal Jalan panel on capital transfer and decided to pay the government Rs 1.76 lakh crore for the current fiscal, a decision that ended a year of disagreement between the government and the central bank.The decision also signals an end of the discretionary power enjoyed by the RBI on dividend payouts. In the current fiscal, the RBI will pay out Rs 1.23 lakh crore of surplus and Rs 52, 637 crore of excess contingency provisions lying in its books.( With inputs from IANS )

Nirmala SitharamanFOLLOW

Nirmala sitharaman, Latest News

Seeing a big opportunity in Sino-US trade war, India has identified some of the global manufacturers across various sectors that could be approached for making investments in the country. ...

Slamming the Congress for their "Unfit Govt Unfit Economy" campaign on social media, Finance Minister Nirmala Sitharaman on Thursday said that the UPA government led the country in corruption and ran the economy with double-digit inflation through 10 ...

With all eyes on the annual report of the RBI on growth on Thursday and its surplus transfer to the government and a host of measures announced by the government to revive the economy and also decisions to boost FDI, broking house CLSA has said the g ...

The Union Cabinet on Wednesday unveiled the second round of foreign direct investment (FDI) reforms by easing the 30 per cent local sourcing norm in single-brand retail (SBRT) where domestic procurement for exported goods will now qualify for inclusi ...

A government constituted Direct Tax Code task force, headed by CBDT member Akilesh Ranjan, is arguing for a new tax regime for individuals. It has proposed dramatic changes to the Income Tax Act, which dates back 58 years. ...

Noting that 'band-aid' measures would not help the economy as it faces several cyclical and structural issues, Fitch group firm India Ratings and Research has lowered its GDP growth forecast to six-year low at 6.7 per cent in the current fiscal as ag ...

The 10-year government bond yield fell another 8 basis points on Tuesday to hit a three-week low after the Reserve Bank of India (RBI) said it would transfer Rs 1.76 lakh crore surplus to the government this fiscal, removing worries over the Centres ...

As the RBI central board accepted the recommendations of the Bimal Jalan panel on capital transfer and decided to pay the government Rs 1.76 lakh crore for the current fiscal, criticism of the panel and the government poured in on social media, with ...