AMN / NEW DELHI
Union Finance minister Arun Jaitely has said that his government does not need money from the RBI in the next six months.
In an interview to Times Now, the finance minister rejected opposition charges the government was seeking access to the bank’s reserves to fund schemes ahead of the 2019 general election.
“I don’t need money in the next six months,” Finance Minister said.
Opposition accused the government of trying to undermine the Reserve Bank of India’s (RBI) authority, but Jaitley said his government respected the institution’s independence.
“We respect the autonomy (of the RBI) but, at the same time, if some sectors are starved of liquidity or credit, we will flag those issues. We do so with the RBI.”
The Congress, India’s main opposition party, has accused Prime Minister Narendra Modi’s government of eyeing the cash reserves held by the RBI.