Tussle between Reserve Bank and govt
PM Narendra Modi dedicated the tallest statue in the world of Sardar Patel, made at a cost of Rs 3000 cr to the nation. He has called it the ‘statue of unity’. There cannot be a bigger joke than that. May be a government which forced the country to stand on the brink of division needed a comic relief such as this to cover up for its lacunae. Forget the unity among people, autonomous organisations working under the government are splitting through their functioning. All credit goes to Narendra Modi for having successfully wrecked every working institution in the country whether it is the CBI, Reserve Bank, Finance ministry to fight against each other, while pitting Dalits against people of their own community. Now, after all this, the government has erected a statue of unity.
The fight between Reserve Bank and central government is now out in the open. RBI governor Urjit Patel is almost close to submitting resignation to his post. RBI Deputy Governor Viral Acharya had spoken about government interference in Reserve Bank’s autonomy. Finance Minister Arun Jaitley has accused RBI of indiscriminately giving out loans between 2008 and 2014. Swadeshi Jagaran Manch of RSS, which was lying silent so far, has now suddenly vented ire against RBI holding it responsible for rupee losing its strength against dollar with every passing day. The government has directed RBI to make leeway for loans, despite NPAs piling up and loans but being repaid. RBI has instructed 11 banks to stop giving out loans in this regard. Government has problems with RBI for the same reason that the institution has refused to give loans. PMO has raised objection about Viral Acharya’s statement on govt interference.
Autonomous institutes are experiencing challenges ever since Sangh Parivar controlled Modi government came into existence. This government has a single point agenda of destroying every autonomous institution built by Nehru’s team. Soon as they assumed power, the government dismantled UGC and then dismembered five year plans. The strongest agency CBI is now marred by infighting. JNU’s autonomy has been stripped off and efforts are on to communalise it. Modi government is out to destroy everything the country was proud of, in the last seventy years. Reserve Bank alone is not responsible for NPAs in banks, but the economic policies of all governments that have been in power in the past are also responsible for it. Unless they are changed, the govt has no reason to attack RBI and question its autonomy while safeguarding the interests of capitalists who abuse the banking system the most?
This is not the first time RBI is in tussle with the Modi government. When NDA assumed office after elections, the then RBI governor Raghuram Rajan had resigned following differences of opinion with Modi. He had even criticized the government after his departure. Eventually, Modi brought his own Man Friday Urjit Patel who also went into his bad books a little later. The government had not informed RBI of the demonetization decision, which was the cause of contempt. Now Modi govt is trying to control RBI using 7th article, in order to safeguard the interest of capitalists. This was not used by any government in the past even during times of distress such as 1991 or 2008 of global meltdown. Now Modi government wants to exert itself on RBI and weaken its structure and decisions. People have to teach this government a lesson, else it would march towards arrogant dictatorship unhindered.
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Ready to face no-confidence motion, says Karnataka CM Siddaramaiah
Hassan (Karnataka) (PTI): Karnataka Chief Minister Siddaramaiah on Saturday said that the Congress government led by him was ready to face the no-confidence motion if moved by the opposition during the legislature session from December 8.
With Deputy CM D K Shivakumar by his side, he reiterated that they would both abide by the high command's decision on the leadership issue.
"Let them (opposition) bring in a no-confidence motion or adjournment motion or any other motion. We are ready to face it. Ours is an open book, transparent government. We are ready to face anything," Siddaramaiah said in response to a question.
However, BJP state President B Y Vijayendra and Leader of Opposition in the Legislative Assembly R Ashoka, clarified that the party, along with the JD(S) has not discussed or decided anything so far regarding moving a no-confidence motion against the government.
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The winter session of the Karnataka legislature will begin in Belagavi, bordering Maharashtra, on December 8 and will go on till 19th of this month.
Not wanting to react to a question on the leadership issue, the CM said the Congress high command is very strong.
"D K Shivakumar and I will be committed to whatever the high command decides," he said.
Earlier in the day in Bengaluru, Shivakumar accompanied AICC Mallikarjun Kharge till airport from Vidhana Soudha, after paying tributes to B R Ambedkar on his 69th death anniversary, which had led to some speculation about possible discussion between the two on the leadership issue.
The power tussle within the ruling party had intensified amid speculation about a change in chief minister in the state, after the Congress government reached the halfway mark of its five-year term on November 20.
However, both the CM and Deputy CM had recently held breakfast meetings at each others residences, on the instructions of the high command, which is seen as a move to pause the leadership tussle between the two and to signal Siddaramaiah's continuation as the CM for the time being, especially ahead of the Belagavi legislature session.
