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  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.

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