FM Nirmala Sitharamana blasts critics of RBI transfer of surplus funds to govt

By: |
Updated: August 27, 2019 7:08:30 PM

It is worrying that the committee appointed by the RBI is now being questioned.

 

home buyers, nirmala sitharaman, gst, rbi, surplus reserve, Deadlines given to tax authorities are not impossible but achievable.

Finance Minister Nirmala Sitharaman flayed the critics of the Modi government for questioning the credibility of the Bimal Jalan Committee, set up by the Reserve Bank of India. She said raising questions on the credibility of the committee is a worrying sign. The committee comprised eminent people and making allegations against it are outlandish, the finance minister said at a press conference in Pune on Tuesday. Nirmala Sitharaman defended the decision by the RBI board to transfer Rs 1.76 lakh crore surplus funds to the government. Earlier in the day, the finance minister Nirmala Sitharaman was speaking to journalists after a meeting with trade and industry bodies on the issues of GST.

The minister said she was willing to hear out anyone who had issues related to the GST, but the resolution has to come through the GST council. She said the government wants entrepreneurs to work without any worry and said she has requested the tax officials not to overstretch to meet tax targets. She said it was important that tax officers did their job but they must also understand and facilitate business. She further said the deadlines given to tax authorities are not impossible, but achievable.

Also Read: Economic slowdown not as bad as shown; some products not selling because people buying other items

The finance minister and Anurag Thakur, minister of state for finance, held a series of meetings with tax officials. This is the fourth event in a series of such events across the country.

The Narendra Modi government has announced a slew of measures to boost the slowing economy. The finance ministry had announced different support schemes such as recapitalisation of public sector banks to step up lending, additional liquidity support to housing finance companies, decriminalising non-compliance to CSR norms and repo rate cuts to encourage investment.

Do you know What is Wholesale Price Index (WPI), Public Debt, Finance Commission Grants & Other Transfers, Economic Survey, State Finance Commission? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.