New Delhi, Jan 15 (UNI) Amid reports of the Government planning to raise the income tax exemption limit to Rs 5 lakh in the coming budget, senior Congress leader and former Finance Minister P Chidambaram on Tuesday said that the BJP Government was following a ‘scorched-earth’ policy.
In a series of tweets, Mr Chidambaram said,’’as I had said, more panic-driven measures are in the offing, but where is the money?
The BJP government is following a scorched-earth policy. It will spend money it does not have and it will leave a huge unpaid bill for the next Government.’’
‘’ Only those who know they face defeat will follow a scorched-earth policy,’’Mr Chidambaram said.
Mr Chidambaram's tweet comes even as there are reports that the Centre is mulling to increase the tax exemption limit from Rs 2.5 lakh per annum to Rs 5 lakh a year.