The twin moves – of transferring the RBI surplus to the Union government and merger of banks – will further aggravate the slowdown the Indian economy is facing.
The twin moves – of transferring the RBI surplus to the Union government and merger of banks – will further aggravate the slowdown the Indian economy is facing. The government should ensure large-scale public investments to create jobs in order to face the economic crisis. Sitaram Yechury, general secretary of CPI(M), talks about the two moves by the government and their impact.