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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Inappropriate for MLAs seeking free IPL tickets, says D.K. Suresh
Bengaluru: Bengaluru Milk Union Ltd President D.K. Suresh on Monday said it is inappropriate for MLAs to seek free IPL tickets, adding that those interested in watching matches should pay for them personally.
Speaking to reporters near his residence in Sadashivanagar, he said, “IPL is a commercial tournament and does not represent the country. It is not right for public representatives to focus too much on such matters.”
Referring to the recent controversy during the RCB celebrations, he said, “let us find out who benefited the most from the statements made during the incident.” He also pointed out that BJP MLAs had received IPL tickets as well.
Responding to discussions about relocating the Chinnaswamy Stadium, Suresh said the government has already approved the construction of a new stadium at a location he had proposed.
“I had suggested building a stadium in Surya City and submitted a proposal for it. Bengaluru needs four stadiums in four directions to cater to its growing population and encourage youth participation in sports,” he said.
He noted that apart from Kanteerava Stadium, KSCA, and the Football Stadium, there are limited facilities in the city.
“When I was a Lok Sabha member, I had proposed allocating 100 acres in my constituency at Surya City. The land was later earmarked and the plan approved,” he added.
Suresh said he has discussed the project with Minister Zameer Ahmed Khan, Rajiv Gandhi Housing Corporation Chairman Shivalingegowda, and Anekal MLA Shivanna.
“The Cabinet has now approved the project, and a stadium will be developed on around 50–60 acres,” he said.
He further added that he has requested the Deputy Chief Minister to build another stadium at Shivarama Karanth Layout through the BDA, where 40 acres have been allocated. Plans are also being discussed to develop a well-equipped stadium in Bidadi.
Commending state government's recent bilingual policy move, Suresh said forcing children to learn three languages could affect their comprehension.
“It is a good decision to make two languages compulsory. Learning a third language should be left to the choice of students and parents,” he said.
Responding to criticism from BJP leaders, he said their tendency is to oppose every decision of the government.
“To please their central leadership, they take a pro-Hindi stance. Instead, they should advocate for the adoption of Kannada in all states,” he said.
When asked about the earlier three-language policy under Congress, he said, “the situation is different now. Today, the focus should be on quality learning. Kannada should remain the primary language, while students and parents can choose an additional language.”
