Chidambaram flays sliding economy

Chidambaram flays sliding economy


With the Union Budget only three days away, the former Finance Minister, Mr. P Chidambaram, hit out at the Prime Minister, Mr. Narendra Modi and his government on Wednesday morning over the state of the economy, highlighting the shortfall in tax revenues and a sharp increase in retail inflation.

The Congress leader also took a swipe at the Prime Minister over his BJP's campaign tactics for next month's Delhi Assembly election, urging them to refrain from 'abuse and rhetoric' and explain to voters why 'achhe din (good days) has not arrived after 6 years'.

Mr. Chidambaram, currently out on bail after spending more than 100 days in Delhi's Tihar Jail in connection with the INX Media scam case, has frequently targeted Mr. Modi and the central government over the slowdown in the economy; earlier this month he criticised the BJP over a 'sliding economy' and warned of 'youth and students exploding in anger'.

'Since the PM and his ministers seem cut off from reality, here are three things they can speak about in the Delhi elections. CPI has increased from 2 per cent in Jan 2019 to 7.35 per cent in Dec 2019. Tax revenues will fall short of budget estimates by Rs 2.5 lakh crore in 2019-20. There will be sharp expenditure cuts in programmes meant for SC, ST, OBC, minorities and women & children, he tweeted.