The Central Government has in one swipe, took away 99.99 per cent of Reserve Bank of India’s profits making the bank give the Government Rs 1.76 lakh crore in all, AIMIM president and Lok Sabha member from Hyderabad, Asaduddin Owaisi said.

He told reporters that governments in the past had taken up to 50 per cent of RBI profits but what the Narendra Modi government has done now is very wrong.

“In reality, what the Government has actually now been left with is just Rs 16,000 crore from the Rs 1.76 lakh crore it got from RBI. The Centre already showed Rs 99,000 crore from RBI in the budget which leaves Rs 86,000 crore. Of this, Rs 70,000 crore is to be given to banks for refinancing them,” he said.

“Tho abh kya bacha hai Modi ke paas, sola hazar crore ka ek gajar ki pungi,” Owaisi added. This country is vast and what can be done with this amount? Instead, why does the Government not create an infrastructure fund of Rs 4 lakh crore. The unorganized sector on which more than 400 million people depend on for livelihood is facing a crisis, he said. Owaisi also warned that the fiscal policies of the Central Government will result in a fall of India’s foreign exchange reserve that now stand at USD 430 billion. “If this happens, why will India get FDIs?” he asked.

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