Too Late to Remedy Economy Now: Chidambaram Ahead of Budget 2020

Chidambaram also took a dig at Finance Minister Sitharaman for “dismissing suggestions with utter contempt.”

Chidambaram also took a dig at Finance Minister Nirmala Sitharaman for “dismissing suggestions with utter contempt.”

(Photo: Aroop Mishra/The Quint)

Video Editor: Ashutosh Bharadwaj
Video Producer: Kanishk Dangi, Mythreyee Ramesh

In an exclusive conversation with The Quint’s Editorial Director Sanjay Pugalia, former Union minister P Chidambaram, on Wednesday, 15 January, said that it was “too late” for the Centre to remedy the economy before March.

When asked if he would like to give any suggestions to Finance Minister Nirmala Sitharaman ahead of the Budget, he took a dig at her for not taking suggestions.

“I am not competent to advise Nirmala Sitharaman. Even what we say in Parliament, she dismisses us with utter contempt. She doesn’t take any suggestion. She doesn’t find any merit, in anything the Opposition party says. She knows the best.”

P Chidambaram, Former Finance Minister

Listen to the full interview here.

Chidambaram added that even if the government introduces any major policy decision in the 1 February Union Budget, it would take at least six months to assess the impact.

Speaking about the meeting between Prime Minister Narendra Modi and prominent industrialists, the former finance minister said:

“These meetings are too late. You can’t hold a meeting on 6-7 January and then table the Budget on 1 February. These meetings must have been held much earlier if they want to come up with meaningful proposals.” 

P Chidambaram, Former Finance Minister

He added that while the “priority” of the government was Hindutva, they “did not understand” macro economics.