Yediyurappa has no knowledge of finance: Siddaramaiah slashes at CM in Mangaluru
Mangaluru: Chief Minister Yediyurappa has no knowledge of finance. Otherwise he would have not told that the govt has gone bankrupt, said Former chief minister Siddaramaiah.
Speaking to mediapersons at the Mangaluru Airport, Siddaramaiah said that treasury would never be filled. Tax would be spent on essential works as soon as it comes.
The central government has given Rs 1,200 crore that too after two months, while the state government had asked Rs 38,000 crore. This money is insufficient for the emergency management. They would have given at least 5 thousand crores. Release of such a small amount of funds is the failure of the state government. It would not have happened if the state government had put pressure on the centre, Siddaramaiah added.
Responding to a question from journalists about the cases being filed against those who speak against the central government, Siddaramaiah said that Prime Minister Narendra Modi was following Hitler's legacy.
Former ministers UT Khadar, K Abhayachandra Jain, MLC Ivan D'Souza, Harish Kumar and Youth Congress district president Mithun Rai were also present.
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RBI keeps policy rate unchanged amid inflationary pressure
Mumbai (PTI): The Reserve Bank on Wednesday expectedly kept interest rates unchanged amid hopes of a global recovery on the back of ceasefire in the six-week-long US/Israel-Iran conflict.
The policy decision comes as a month and a-half-long West Asia conflict has disrupted energy supplies, shot up crude oil prices and created fiscal and inflationary pressures for import-dependent nations like India.
This is the first monetary policy review after the government announced a fresh inflation target for the RBI last month. The government has asked the RBI to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five years ending March 2031.
Announcing the first bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to retain short-term lending rate or repo rate at 5.25 per cent with a neutral stance.
The rate cut pause comes on the back of the consumer price index (CPI) based headline retail inflation that moved closer to the RBI's medium-term target of 4 per cent at 3.21 per cent in February.
Additionally, the rupee has depreciated by over 4 per cent since the war, which has consequences for pushing up import inflation.
However, the rupee has appreciated by 50 paise to 92.56 against US dollar following announcement of the ceasefire by the US and Iran.
Based on the recommendation of the MPC, the RBI reduced the repo rate by 25 bps each in February, April, and December 2025 and 50 basis points in June amidst easing retail inflation.
India's retail inflation dropped to a historic low of 0.25 per cent in October 2025, marking the lowest level since the Consumer Price Index (CPI) series was introduced.
However, the rupee declined to historic low and crossed 95 against a dollar last month making imports costlier, raising fears of rise in inflation. Rupee touched a record low of 95.21 on March 30, 2026.
