Harpal Singh Cheema Criticises BJP Over India’s Economic Slowdown

The Finance Minister further questioned the Centre over the recent decision involving the Reserve Bank of India’s risk buffer, saying it exposed the BJP Government’s desperation to manage its Budget through temporary measures rather than long-term economic strengthening. Referring to reports regarding RBI reducing its Contingent Risk Buffer from 7.5% to 6.5% before transferring a record dividend to the Centre, Harpal Singh Cheema said such decisions could weaken the country’s financial resilience.

“We had highlighted this earlier when the RBI gave a ‘record’ dividend to the Government of India. Such transfers cannot come at the cost of the risk-management capacity of India’s most important financial institution. This Government is obsessed with balancing its Budget even if it means higher fuel prices, rising inflation, and weakening RBI’s resilience,” Minister Harpal Singh Cheema stated.

He added that the BJP Government must answer why the RBI’s risk-management capacity was compromised merely for budgetary management. “BJP’s economic management reflects clear incompetence. Common citizens are paying the price through inflation, rising fuel prices, and weakening economic stability while the Government continues hiding facts and misleading people,” Harpal Singh Cheema added.

The Punjab Finance Minister asserted that the country required transparent economic governance, policies focused on strengthening domestic demand, employment generation, inflation control, and restoration of investor confidence instead of diversionary politics and headline management.