1. P Chidambaram: If Rs 500 and Rs 1,000 notes were villains, how does Rs 2,000 note become a hero

P Chidambaram: If Rs 500 and Rs 1,000 notes were villains, how does Rs 2,000 note become a hero

P Chidambaram, on being asked to react to the revelations made in a couple of letters against him and former prime minister Manmohan Singh, in which they allegedly stand accused of helping beleaguered businessman Vijay Mallya to get loans despite opposition from banks said that accusing the accusations were not right - 'PM did not facilitate any loans', he added.

By: | Updated: January 30, 2017 10:31 PM
P Chidambaram, Narendra Modi, Manmohan Singh, Vijay Mallya, Prime Minister, NDA goverment, demonetisation, black money, UPA Government P. Chidambaram added that the UPA government also successfully battled the tremendous ill effects of the global financial crisis and ensured that the impact on India was minimal.

In an interaction, former finance minister P Chidambaram, on being asked to react to the revelations made in a couple of letters against him and former prime minister Manmohan Singh, in which they allegedly stand accused of helping beleaguered businessman Vijay Mallya to get loans despite opposition from banks said that the accusations were not right – ‘PM did not facilitate any loans’, he added.

On being asked that PM Narendra Modi is claiming that he has rescued an economy that was on the brink of collapse due to UPA policies and is building it up to being the best one in the world, Chidambaram said that PM Modi has a habit of ‘slamming all previous governments’ and tagging them as failures. He added that the UPA government had delivered growth through much of its reign. He also added that the UPA government also successfully battled the tremendous ill effects of the global financial crisis and ensured that the impact on India was minimal.

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Going further, he asked that with the NDA government being in power now 32 months, what has PM Narendra Modi achieved? He said, ‘Growth was seriously compromised by the government. The note ban interrupted growth in a major way”.

Demonetisation does not kill black money. What is the link between both. What is the link between demonetisation and bribes. Do not connect demonetisation with black money. They are unrelated. Many people who have been caught with unaccounted money had the new Rs 2000 notes. Has anyone got an answer about why Rs 2000 currency note is good. If Rs 500 and Rs 1000 notes were villains, how does Rs 2000 note become a hero.”

In a striking moment that caught the audience by surprise, P Chidambaram, who was speaking to India Today anchor Rajdeep Sardesai said, “Cut indirect taxes and not income tax.” Chidambaram added that not just a few, “‘crores and crores of people will benefit from a cut in indirect taxes.” He exhorted the present government to focus in a major way on this segment of the tax dispensation.

  1. B
    bmniac
    Jan 30, 2017 at 4:38 pm
    This has been explained by Dr Bibek Debroy. It is on you tube. The one with karan Thapar is quite clear and logical
    Reply
    1. H
      Hari
      Jan 30, 2017 at 5:43 pm
      MMS AND CHIDAMBARAM ARE FOOLING TO PUBLIC BY GIVING ABSURD CLARIFICATION. CBI must arrest both in this case. Why MMS and Chidambaram were not questioned by CBI when both are involved in Mallya loan case who forced bank officials to grant the loan to Malaya when his companies are in red. What BJP govt is doing si far when his representative is staging drama in media regarding the involvement of both Congress leaders. This is very shocking and this is the reason for growing Corruption in this country. Such inaction will be suicidal for BJP who will face an uphill task in winning UP and other embly elections.
      Reply
      1. neha agarwal
        Jan 30, 2017 at 4:23 pm
        Too late to ask this question...should have asked on note ban day
        Reply
        1. Ramachandra Rao Pedaparthi
          Jan 30, 2017 at 4:52 pm
          Because people who stored in tons of 500 and 1000 notes are only crying from roof tops but people holding 2000 note are proudly moving around. A simple logic. N number of economists have said in long run it is very good move but in short run also it happened to be a good move because from the very next day of post demonetization the Kashmir disturbance has calmed down. No one is considering these Harvards from UPA as economists but only as politicians.
          Reply
          1. R
            Rsharma
            Jan 30, 2017 at 4:34 pm
            Sour Grapes for Congress.. their days are numbered under Pappu
            Reply
            1. V
              Vasantanath
              Jan 30, 2017 at 5:50 pm
              Chidu seems to have so many suggestions - now he is talking of reduction in indirect taxes - why did he not do it himself in 10 years ? Why is Congress scuttling the GST bill page when it is most important to bring down Indirect taxes ?? He talks of growth during UPA - that happened in UPA -1 mainly because of efforts of NDA previously before them in building roads / infra etc and general buoyancy in the world trade. Once world went bust in 2008, UPA took India further down through Policy Paralysis and converted banks in to duds. It is ti the credit of this Govt that they have in a short time managed to world attention back to India and give everybody hope !!
              Reply
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