Monday 25 May 2020
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business-standard - 2 days ago

Tell govt to take fiscal measures: Chidambaram to RBI governor after fresh cut in repo rate

Senior Congress leader P Chidambaram on Saturday asked RBI Governor Shaktikanta Das to bluntly tell the government to do its duty and take fiscal measures if he feels that the demand has collapsed and the GDP growth is heading towards negative territory. He also asked if the prime minister or the finance minister will laud themselves for the fiscal stimulus after the RBI chief s statement. Governor Shaktikanta Das says demand has collapsed, growth in 2020-21 headed toward negative territory. Why is he then infusing more liquidity? He should bluntly tell the government Do your duty, take fiscal measures , the former finance minister said in a tweet. Even after RBI s statement, is the PM or Nirmala Sitharaman lauding themselves for a package that has fiscal stimulus of less than 1 pc of GDP, he asked. Chidambaram had earlier said the fiscal stimulus package announced by the government is hopelessly inadequate given the gravity of the economic crisis. He also trained his guns on

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