Saturday, April 10, 2021
Home Fact-Check TV channel claims Modi govt is going to rain money from the sky, netizens...

TV channel claims Modi govt is going to rain money from the sky, netizens outrage, clarification issued by PIB

Social media users are enraged against the irresponsible reporting of Public TV after its report appeared to be falsifying the concept of 'Helicopter Money'. Netizens urged the Information and Broadcasting Ministry to act against Public TV.

On Wednesday, Kannada news broadcaster Public TV had run a special episode on its network claiming Narendra Modi-led Union government has come up with an initiative of ‘Helicopter Money’, by which money will be airdropped from helicopters to every village to combat the economic slowdown in the country due to corona pandemic.

In its show, Public TV claimed that the Modi government has plans to airdrop currency notes from choppers into every village in India as part of “Helicopter Money” initiative.

“Not a loan. No interest. Currency notes will be airdropped to every village by helicopters,” said a ticker on the Public TV.

Similar reports were also shared on the network claiming that PM Modi will be distributing money to people due to boost spending which has been at a low due to the coronavirus pandemic.

What is ‘Helicopter Money’?

Helicopter Money is an alternative to quantitative easing. This is an unconventional monetary policy tool aimed at bringing a slowing economy back on track. It involves printing large sums of money and distributing it to the public.

American economist Milton Friedman coined the concept of ‘Helicopter Money’, whose literal meaning denotes a helicopter dropping money from the sky.

However, in reality, Friedman used the term to signify “unexpectedly dumping money onto a struggling economy with the intention to shock it out of a deep slump”. Under such a policy, a central bank directly increases the money supply by giving money to the government, who then distributes the new cash to the population with the aim of boosting demand.

The concept of ‘Helicopter Money’ is in the news currently as the country’s economy is at an unprecedented low due to the coronavirus pandemic. Telangana chief minister KC Rao had offered his suggestion that said the centre should use ‘Helicopter money’ to help out states at such difficult times.

However, the reporters at Public TV perhaps took the literal meaning of the macroeconomic concept and produced a TV show out of it to fool the public at these challenging times.

Outrage against Public TV for making false claims

Social media users are enraged against the irresponsible reporting of Public TV after its report appeared to be falsifying the concept of ‘Helicopter Money’. Netizens urged the Information and Broadcasting Ministry to act against Public TV.

The netizens also attacked Public TV for fooling gullible people at a time when people of this country are facing difficulties to sustain their lives. The users also raised their complaint DIPR Karnataka to fact check the claims made by the Public TV.

Clarification by the government

Following the complaint, the PIB also had to clarify that the claim of the government dropping money from helicopters in every town was false and stated that the government was doing no such thing.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Here are 5 major incidents of violence that took place during the fourth phase of polls in West Bengal

Fourth phase of polls in West Bengal today was the most violent one, with several incidents of attack on central forces by TMC workers

Arhtiyas call off strike after Punjab govt modifies software allowing them to get paid for foodgrain procurement from farmers

The Arhtiyas withdrew the strike after the CM assured them that they will remain an integral part of the food grain procurement system

Lokmat thinks infamous discussion of journalists with Prashant Kishor took place in a real clubhouse, says comments were leaked because ‘door was open’

Lokmat said that a TMC meeting took place in a Clubhouse in Kolkata, and journalists and citizens overheard it as door was open

TMC leader Sujata Mondal Khan labels Dalits as ‘beggars by nature’, claims that they sold themselves to the BJP

Trinamool Congress (TMC) leader Sujata Mondal Khan made disparaging comments against the Dalit community.

Lakhs of Muslims gather in Bareilly after Friday prayers demanding arrest, beheading of Yati Narsinghanand Saraswati

Several Muslims shared videos of the protest in Bareilly on Twitter, where they referred to Yati Narsinghanand as a ‘Bhagwa Terrorist’.

Prashant Kishor says internal survey shows BJP win, hails PM Modi, admits TMC’s Muslim appeasement politics: Here is everything he said on Clubhouse

"Major problem that we have to accept is that there have been efforts for the last 20 years to appease the minorities," said Prashant Kishor

Recently Popular

Maharashtra Congress leader slams Aaditya Thackeray for clearing Rs 3,693 crores to renovate bungalows of Shiv Sena corporators

Janardan Chandurkar requested governor to intervene after Aaditya Thackeray allotted Rs3,693 crores to Shiv Sena corporators

USA: Police officers show up at Twitter user’s home for criticising Congresswoman AOC on social media, her spokesperson denies involvement

Two policemen visited the home of an American citizen for tweeting against Alexandria Ocasio-Cortez (AOC).

Prashant Kishor says internal survey shows BJP win, hails PM Modi, admits TMC’s Muslim appeasement politics: Here is everything he said on Clubhouse

"Major problem that we have to accept is that there have been efforts for the last 20 years to appease the minorities," said Prashant Kishor

‘Indiranagar ka Gunda’ Rahul Dravid sets the internet on fire with appearance in CRED ad

Cricket legend Rahul Dravid has set the internet on fire with his performance in an advertisement for CRED.

Watch: Arnab Goswami’s special message for Barkha Dutt after Sachin Vaze lands in Taloja Jail

Without explicitly naming Barkha Dutt, Arnab Goswami slammed the journalist for celebrating his unlawful arrest.

Lutyens journalist speaking ‘truth to the power’ by discussing Mamata Banerjee’s toilet routine

An embarrassed Prashant Kishor jokingly asked the Lutyens journalist, "Am I expected to answer this also?"
- Advertisement -

 

Connect with us

254,077FansLike
528,305FollowersFollow
24,200SubscribersSubscribe