P Chidambaram Economy India News

The central government is absolving itself of any financial responsibility. This is a gross betrayal as well as a direct violation of the law : P Chidambaram

P Chidambaram, Former Finance Minister :

  • If the pandemic is an ‘Act of God’, how do we describe the mismanagement of the economy during 2017-18 2018-19 and 2019-20 BEFORE the pandemic struck India? Will the FM as the Messenger of God please answer?
  • The two options given by the Modi government to the States to bridge the GST Compensation gap are unacceptable.
  • Under the first option the States are asked to borrow by pledging their future receivables under Compensation cess. The financial burden falls entirely on the States.
  • Under the second option, States are asked to borrow from the RBI window. It is more market borrowing, only by a different name. Again, the entire financial burden falls on the States.
  • The central government is absolving itself of any financial responsibility. This is a gross betrayal as well as a direct violation of the law

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