Not all factors are under control of any govt: P. Chidambaram

Jun 20 2014, 19:45 IST
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Congress leader P. Chidambaram addresses the media at AICC office in New Delhi on Friday. PTI Congress leader P. Chidambaram addresses the media at AICC office in New Delhi on Friday. PTI
SummaryP. Chidambaram wished that the new govt is able to check inflation but felt it was a difficult task.

"every decision has to be measured in the context of economy at any given time.

"Let him take those decisions first," he said refraining from comment on the merit of Modi's statement regarding it.

Rebutting Modi on his remarks about the country's financial health during UPA, Chidambaram posed a number of questions.

"Did the prime minister refer to the cash balance of the government? Did the prime minister refer to the foreign exchange reserves?

"Did the prime minister refer to the outstanding liabilities of the central government?" Chidambaram asked wondering whether the prime minister meant what he said.

Giving figures on all these counts, Chidambaram accused the BJP and NDA of remaining in "campaign mode".

In a point-by-point reply to Modi, Chidambaram said that the Congress-led UPA Government has left a better cash balance, while the NDA had left behind an "empty treasury".

Pointing out that foreign exchange reserves before the NDA government assumed office was USD 304 billion, he said that foreign exchange reserve was just USD 113 billion, when the UPA Government had assumed office a decade back.

Listing out the initiatives of the then UPA government, Chidambaram said, the Congress-led government had left behind an economy, where the fiscal deficit has been reduced, current account deficit has been sharply contained.

Asked what are his expectations from the new budget, Chidambarma said that this question should be posed to the finance minister of the new government. He said that there is a new government and a new minister. "Let us see what they do," he said.

To a question on as to how Congress will act in Parliament in the Budget session, Chidambaram said,"We will play the role of a resolute, determined and responsible Opposition...Our party will be a responsible and formidable Opposition."

Asked about Leader of Opposition issue in Lok Sabha, he said that the position of LoP rightfully belongs to the largest political formation in the Opposition camp, which is the Congress party in the Lower House.

His comments comes at a time when the prospects of Congress getting the status of the Leader of Opposition appears to be dim with Congress securing only 44 seats, which is less than the required 10 per cent of the total strength of 543 in Lok Sabha.

On Vodafone issue, Chidambaram said that first one has to have a settlement and then amendment of law.

"Our government's position was if

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