Full Coverage: What is the force behind RBI Governor Raghuram Rajan’s first monetary policy?

19 Sep 2013 / 0 Comments

3.45 am Just woke up after long work till 12 am. "The office is so messy as like Indian economy. Fortunate Subbarao who left this mess created by few stupid political economists," Raghuram Rajan found telling the sweeper who came to clean up the

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Published On:Monday, 4 June 2012
Posted by Diggy Chacha

Prime Minister Manmohan Singh announced 1 day fast against team 'desperate'

NEWS IN BRIEF - POLITICS
Chooses Ramleela Maidan for the fast, will keep 1 day of maun vrata as well
Finally, breaking his silence on the matters raised by 'desperate' Team Anna and Ramdev Baba, India's Prime Minister Manmohan Singh said he will fast for one day on the Ramleela Ground.

"Their allegations suck. Totally, illogical, indigestible and non-hygienic. If according to Monty formula of poverty line total black money is 100-200 billion dollars only, then what can I do? Why do Anna and opposition think rest is in my pocket? I would like to know why Ramdev Baba is so forceful for the India's black money, how much stake does he want out of that? And this Team Anna, what is their problem with corruption in India, if some people above poverty line of Rs 28 are earning a bit of other income then why do their brains irritate so much?" said furious Manmohan ji.
India's communication minister Kapil Sibal said "Now everything is out of our control. Manmohanji decided to seat on fast for 1 day and will keep maun vrata for entire day against all these desperate people who are against corruption and black money."
Manmohan Singh confirmed that black money calculation in India was based on Monty Formula for Poverty Line calculation, which is the most scientific formula of the calculation of black money and there is no need for so much hue and cry. However, few experts along with Ramdev Baba don't agree with that formula.
"What the hell is this? Rs 28 per day is BPL formula and if this government applies it to India's black money and say that all the people who transferred money to Swiss banks living in a stark poverty in India then it sucks," said Nitin Gadkari, BJP president "India's poverty line should have at least near Rs 60 per day based on that black money should also increase by at least double."
Lal Krishna Advani, a senior BJP leader said "It's always better to give some rest to stomach for one day. But I don't understand why he is giving the rest to mouth which does not open up for months and months."

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