”Outlandish” to question Jalan panel”s credibility: Nirmala Sitharaman

TIL Desk/Business/New Delhi/ Finance Minister Nirmala Sitharaman on Tuesday hit out at criticism of the Bimal Jalan panel”s recommendations on the RBI”s Economic Capital Framework (ECF) for the central bank to transfer Rs 1.76 lakh crore to the government.

Speaking to mediapersons here following a meeting with income tax officials, Sitharaman said that any questions raised about the Reserve Bank of India”s (RBI) credibility in wake of Jalan panel”s report is “outlandish”.

“The Bimal Jalan committee had eminent experts in it. It was constituted by the RBI themselves and not by the government. They have had several sittings and have come out with a formula to look at the excess capital framework. Now any suggestion about the credibility of RBI, therefore, for me seems a bit outlandish considering the committee was appointed by RBI themselves”, she said.