Meddling with RBI cash reserve will damage economy: Kanimozhi Karunanidhi

THOOTHUKUDI: Condemning the transfer of excess cash reserve of the RBI to the government, Lok Sabha MP Kanimozhi Karunanidhi, on Wednesday warned that it would create long-term damage to the nation's economy.

Responding to mediapersons here on the issue, Kanimozhi added that the Union government instead of taking corrective measures to check the slump in the economy, has wrongly taken the surplus money from the Reserve Bank of India, which may only devastate our economy.

"We have examples of the economies in the world caught in trouble by transferring the reserve of their respective Central banks," said Kanimozhi, who added that transferring of RBI reserve money, would set a wrong precedence.

Kanimozhi also criticised the BJP-led NDA government at the Centre of doing nothing concrete to address unemployment in the country, which is at a 45-year-high.

She recalled the shrewd measures taken by the Congress-led UPA government at the Centre in 2008 to save the country’s economy from global recession.

The DMK MP was critical about Tamil Nadu chief minister Edappadi K. Palaniswami’s foreign tour, which is said to have been arranged to bring in more foreign investments.

Stating that the chief minister had utterly failed to attract investment despite the global investors’ meets arranged by his government, Kanimozhi said, “Let’s wait and watch the result of his foreign tour.”

Responding to the functioning of DMK party president M K Stalin, Kanimozhi said that as a DMK cadre and the sister of the DMK president, she was proud about Stalin, whose opinion in national issues are being valued highly.