1. Chidambaram rubbishes Central policies: 5 points on which he took on Modi government

Chidambaram rubbishes Central policies: 5 points on which he took on Modi government

While noting that there is no economic crisis at present, Chidambaram said the Indian economy is stagnant and it is not going at the pace it should.

By: | New Delhi | Published: May 19, 2017 7:49 PM
P Chidambaram, Chidambaram, narendra modi, modi, chidambaram on modi, chidambaram on modi government, prime minister narendra modi, pm modi, gst Talking about the industrial sector, Chidambaram said the credit growth in micro and small industries in the last few years has been negative. (Source: PTI)

Former Finance Minister P Chidambaram took on the Modi government policies on Friday. Speaking at ABP News’ event ‘Shikhar Sammelan’, the former finance minister talked about many issues ranging from demonetisation to the recently passed GST Act. While he had a positive outlook towards some policies, Chidambaram urged people to ask some hard questions. Here are five policies on which he took on the Modi government:

1. Negative credit growth in industrial sector

Talking about the industrial sector, Chidambaram said the credit growth in micro and small industries in the last few years has been negative. At the same time, he also talked about agrarian distress and the construction sector. Chidambaram urged people to ask hard questions like if farm wages grow at 4% and inflation remains at 5%, then how will farmers ever come out of poverty? He also highlighted that over 6 crore household in India depends on agriculture while 2 crore on farm labour.

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2. Shortage of jobs

Speaking about the recent mass layoff by some of the IT companies, Chidambaram said IT jobs cut is a major concern. He said thousands of youngsters are coming out of colleges but jobs are not being created for them. He asked, what does the government plan to do about it?

3. Economic policies

While noting that there is no economic crisis at present, Chidambaram said the Indian economy is stagnant and it is not going at the pace it should. He said policies like Jan Dhan and Swachh Bharat may be good initiatives but they do not accelerate the economy. However, he added that GST will help in that direction.

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4. Demonetisation

Chidambaram once again took up the issue of deometisation. He asked as to how long the government will take to count the cash that has come back into the system. He added that people from Tirupati can count the notes faster and nowadays there are machines for the same. When talking about demonetisation’s impact on elections, Chidambaram said it was a wrong move by the current government and added that it is not right to decide the result of elections based on one issue as BJP won in Uttar Pradesh but lost in Punjab and Congress finished as the single largest party in Goa as well.

5. GST

Talking about GST, the senior Congress leader said if 70% of the goods are taxed at 18% then it is good. But no dispute mechanism is being set up and it should be done as soon as possible. Chidambaram said that he started GST process in 2005 and is very happy that it is being implemented now.

  1. R
    Raj
    May 19, 2017 at 8:44 pm
    Chidambaram should bother about the corruption charges against his family rather than criticising the govt. which do not have any scams to it's credits. The loot of resources and corruption in high places have ruined this country under UPA rule. This govt is far better than the previous govt. and the people have approved it. Chidambaram is trying to divert attention from the corruption charges against him and his family. People can't be fooled for ever
    Reply
    1. R
      RK
      May 19, 2017 at 9:10 pm
      Chidambaram has been honest enough to appreciate positive aspects of BJP, if he is raising questions which are valid then why is it considered diversion. Under BJP jobs have not been created, even GST is not the baby of BJP they have just carried it forward just like any other govt would have done. Constructive criticism should always be appreciated. Yes you are right people can not be fooled with Ache Din sloagans.
      Reply
    2. N
      N.C.Jha
      May 19, 2017 at 8:27 pm
      Defend your case. Only when you get a clean chit, you will have a right to open your stinking mouth. Until then keep quiet.
      Reply
      1. M
        Milind Bhatawadekar
        May 19, 2017 at 8:03 pm
        He & his colleagues & cronies created mess in industry, mining, banking, power generation. In 2014 when BJP came to power, it was known that banking mess cannot be solved till other issues are sorted out one by one. Now he talks about how BJP is fai . Most cunning & dangerous person.
        Reply
        1. R
          RK
          May 19, 2017 at 9:18 pm
          In politics nobody is honest or fair, they all are politicians and it is their right to play politics. Godhara incident...bans and other cases will always be there in the history. Nothing great has happened in the tenure of BJP excepts for slogans.
          Reply

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