Criticising the Centre’s decision to link increased borrowing limits for states under the Fiscal Responsibility and Budget Management (FRBM) Act to the fulfilment of conditions,West Bengal Chief Minister Mamata Banerjee on Monday said that it is against the basic tenets of the federal structure and an “eyewash to befool people”.
Finance Minister Nirmala Sitharaman had said on Sunday that the Centre is increasing the borrowing limit under the FRBM Act from three per cent to five per cent.
“But it’s only 0.5 per cent. The other 1.5 per cent I will get if I agree to certain conditions which go against the federal system. So it’s a big zero… It is an eyewash to befool people. We have decided not to bow down and to protect the federal structure. We will protect our government and its rights. We are not like them (BJP) that once the election is over we will forget the poll promises,” she said.