‘Economic Emergency’: Oppn Slams Centre After Urjit Patel Resigns

“Another one bites the dust.”
“This is a financial and economic emergency.”

The Opposition slammed the Modi government after RBI Governor Urjit Patel resigned from his post on Monday, 10 December. Patel, who had a run in with the government over autonomy of the central bank, in a brief statement on Monday said he has decided to step down as RBI governor with immediate effect. He, however, did not specify the reason for the decision.

Another one bites the dust.

This is the result of our 'chowkidar's' assault on democratic institutions - RBI Governor, Urjit Patel steps down. https://t.co/SFEih1WYZ9

— Congress (@INCIndia) December 10, 2018

This has never happened before. This is unprecedented. We are deeply concerned. The RBI is the custodian of public money. The credibility of all institutions is being destroyed. This is a financial and economic emergency

— Mamata Banerjee (@MamataOfficial) December 10, 2018

Integrity of another institution -RBI, stands denigrated by a tyrannical Modi regime as reflected in RBI Governor’s unceremonious exit.

Economic anarchy, compromising India’s monetary policies & attempting to stifle RBI’s independence by Govt appointed puppets is the DNA of BJP!

— Randeep Singh Surjewala (@rssurjewala) December 10, 2018

RBI governor Urjit Patel has been eased out since he refused to allow the Modi govt to plunder Rs Three lakh crore of RBI reserves. Now Modi govt will get a more pliable RBI governor who will allow this loot

— Arvind Kejriwal (@ArvindKejriwal) December 10, 2018

Saddened, not surprised, by Dr Urjit Patel's resignation. No self respecting scholar or academic can work in this government.

— P. Chidambaram (@PChidambaram_IN) December 10, 2018

Modi Sarkar's desperation to dip into the RBI's reserves is showing.

This government will go to any lengths to tide over its monumental mismanagement of the Indian economy.

— Jairam Ramesh (@Jairam_Ramesh) December 10, 2018

Former Prime Minister Manmohan Singh termed Patel's resignation as "very unfortunate", and said it was a "severe blow" to the country's economy.

In a statement, he said he hoped that the RBI governor's sudden resignation is not a harbinger of Modi government's attempts to “destroy” the institutional foundations of India's USD 3 trillion economy.

Singh said it will be "foolhardy" to diminish institutions for short-term political gains.

Shiv Sena chief Uddhav Thackeray hit out saying, “Instead of appointing and removing RBI governors one by one, the Modi government should decide to take over RBI once and for all.”

BJP MP Subramanian Swamy told ANI, “His resignation will be bad for our economy, RBI and government. He should at least stay till July, until the next government comes to power. PM should call him and find out the reason and dissuade him from leaving in larger public interest.”