People want jobs over subsidies, says FM: P. Chidambaram

Mar 24 2014, 13:09 IST
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FM P. Chidambaram has said that, given a choice, people will choose a job over subsidies. FM P. Chidambaram has said that, given a choice, people will choose a job over subsidies.
SummaryP. Chidambaram's words assume significance as Lok Sabha elections pitched as jobs-vs-dole fight.

UPA’s policy, he said, was of keeping government equity at 51%, while the BJP had toyed and then abandoned the idea of going down to 33%.

“It is not whether I or you think it is a good idea. An idea is good only if it is politically feasible,” he said.

His biggest regret, he said, was not being able to pull back on monetary expansion a year earlier. “What we have done beginning August 2012, I wish we had done it in August 2011… We would have given ourselves two years and 6 months to pull back the economy to the high growth path,” he said.

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