Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

‘Incompetent’ doctors trying to revive failing economy: P Chidambaram  

PTI
Updated: February 10th, 2020, 18:27 IST
in National
0
P Chidambaram at the Patliament House, Monday

P Chidambaram at the Patliament House, Monday

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: Former Finance Minister P Chidambaram tore Monday into Narendra Modi government’s handling of the economy. He said the economy was ‘perilously close to a collapse’ and was being attended to by ‘incompetent doctor’”.

The economy, Chidambaram said, was facing twin problems of rising unemployment and falling consumption but the government continues to live in denial.

Also Read

No linkages between Covid vaccine and heart-related deaths: Govt

3 hours ago
J&K L-G flags off first batch of Amarnath Yatra pilgrims from Jammu amid tight security arrangements

J&K L-G flags off first batch of Amarnath Yatra pilgrims from Jammu amid tight security arrangements

5 hours ago

Initiating the debate on the Union Budget for 2020-21 in the Rajya Sabha, the former finance minister said more money needs to be put in hands of people and not give ‘extraordinary powers’ to junior taxmen to unleash ‘tax terrorism’.

Chidambaram offered Finance Minister Nirmala Sitharaman the same advice that Modi as BJP’s prime ministerial candidate had offered him in November 2013.

“November 2, 2013, a very distinguished political leader said and I quote: ‘Economy is in trouble. The youth wants jobs. Devote more time to the economy, not on petty politics. Please focus on the job at hand’. Very wise advice. I can’t do anything better than reading this piece of advice to the Finance Minister,” pointed out Chidambaram.

According to Chidambaram, the economy was facing structural problems but the government continues to believe they were cyclical in nature.

Modi government’s chief economic adviser for four years, Arvind Subramanian, has stated that the economy is in the ICU (Intensive Care Unit). But ‘I would say the patient has been kept out of the ICU and incompetent doctors are looking at the patient’, Chidambaram said.

“We have an economy which is perilously close to collapse. It has to be attended to by very competent doctors. In the last few years, we have found the doctors are not so competent,” Chidambaram pointed out.

“We are living in denial and we are ignoring two big elephants in the room – one is rising unemployment and the other is fall in consumption. Unemployment rises, consumption falls, the Indian economy becomes poorer and not richer,” noted the former financer minister.

Chidambaram called demonetisation of old 500 and 1,000 rupee notes as well as the hurried implementation of a ‘flawed’ Goods and Services Tax (GST) with wrong design, rates, structure and procedure and an unprepared system as ‘monumental blunders’ that ruined the economy.

“Because of its refusal to admit mistakes, because it lives in denial, because of its predisposition, the government either does not know or if it knows is not willing to make it clear that this is the state of the economy,” Chidambaram asserted.

“When we point out the mistake of the government, the government must have an open mind to debate and if it is a mistake, admit it. It is living in denial. It simply does not accept that the state of the economy is extremely bad,” Chidambaram said as he reeled out the government’s own statistics to drive home the point.

While GDP has fallen to an 11-year low of 4.5 per cent in 2019 July September quarter, agriculture is growing by just two 2 per cent, while consumer price inflation has risen from 1.9 per cent in January 2019 to 7.4 per cent in a matter of 11 months.

“Who are your doctors?, I want to know,” Chidambaram said, adding the government considers Congress as an untouchable and does not think of any good about the rest of the Opposition and so doesn’t consult them.

Chidambaram charged that instead of putting money in the hands of people, the Modi government ‘puts money in hands of 200 corporates’ by way of cut in corporate tax.

Stating that every competent doctor that the Modi government could ever find has left the country, he listed out former RBI governors Raghuram Rajan and Urjit Patel, former CEA Arvind Subramanian and former NITI Aayog Vice Chairman Arvind Panagariya as persons who quit during the BJP rule. “Fear and uncertainty prevail in the country,” he added.

Chidambaram also attacked Sitharaman for reading out a 160-minute speech without talking about the state of the economy and its management.

“Question on my mind is what was the Finance Minister trying to say? If you take 160 minutes to read the speech and still few pages are left to read, what is the narrative, what is the story you are trying to say. You are living in echo chambers. You want to hear your own voice,” asserted Chidambaram.

PTI

 

Tags: doctorsEconomyGSTNarendra ModiNirmala SitharamanP Chidambaram
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Sibarama Khotei

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Narendra Kumar

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019

Archives

Editorial

Hungary Lessons

Hungary
July 2, 2025

Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

Read more

New Democratic Face

Zohran Mamdani
July 1, 2025

US President Donald Trump, who had comfortably defeated his Democratic rival Kamala Harris in the recent presidential election and exuded...

Read more

Proof To Vote

Vote
June 30, 2025

Months ahead of the Assembly polls in Bihar, the Election Commission of India (ECI) on 28 June launched a ‘special...

Read more

Genesis of Jana Sangh

AAKAR PATEL
June 29, 2025

We marked the 50th anniversary of the Emergency a few days ago. Another anniversary, this time the 75th, went relatively...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST