Would Have Resigned Had PM Insisted On Demonetisation: Congress Leader P Chidambaram

[timmy]

 

P Chidambaram served as Union Finance Minister in the UPA government.

NEW DELHI: 

HIGHLIGHTS

1. Chidambaram said he'd have quit as Finance Minister over demonetisation
2. He said he would've raised his objection to the PM over the currency ban
3. Mr Chidambaram claimed that the move will not curb corruption

 

 Senior Congress leader P Chidambaram today said had he been the Finance Minister, he would have resigned from the post if the Prime Minister insisted on demonetisation.

 

"Had the Prime Minister told me 'I have decided to declare as illegal tenders Rs. 1,000 and Rs. 500 currency notes', my advice to him would have been not to do it. Don't take the decision.

"I would have given him facts and figures. But, had he still said 'Sorry, this is my decision and I will do it', let me tell you quite candidly, I would have resigned," said the former Union finance minister.

 

 

He was replying to a question at the Delhi Literature Festival on what would he have done had he been in Union Finance Minister Arun Jaitley's place.

 

Attacking the government over demonetisation, Mr Chidambaram claimed that the move will not meet the objectives of curbing corruption, counterfeit currencies and black marketeering as spelt out by Prime Minister Narendra Modi.

However, he added that the "only short-term benefits" of it would result in people shifting towards digital transactions in the urban areas.

 

Criticising the Centre, Mr Chidambaram claimed that sufficient information on the ramifications of demonetisation was not provided to the Prime Minister and added that even the Chief Economic Advisor was not aware of the move.

He said when he held the office of the Finance Minister, it came to his knowledge that one of his predecessors had constituted a committee on demonetisation, but did not name the predecessor or specify the period.

"The report of the CBDT was against demonetisation. No one considered demonetisation," he said, adding that similar steps were taken in 1946 and again, in 1978 during Morarji Desai's regime.

Mr Chidambaram said while the demonetisation decision was taken in utmost secrecy, it would be wrong to assume that no one in the opposition could have been taken into confidence.

"If you can't consult the opposition, the government should have consulted its own former finance minister Yashwant Sinha. It should have asked former Prime Minister Manmohan Singh. A decision of this magnitude ought to be taken at least (in consultation) with Sinha and Singh," he said.

The Congress leader said although the Prime Minister has asked for 50 days for the situation to ease out, "putting the poor under this for 50 days is torture".

[micxas]

Yeah because he probably might have no way to convert his black money in that case 

[kiladi bullodu]

veedi bokka

[MRI]

veedu veedi koduku velli tiruvottiyur center lo vongomanu

[Prince_Fan]

4 hours ago, micxas said:

Yeah because he probably might have no way to convert his black money in that case 

 

1 hour ago, kiladi bullodu said:

veedi bokka

 

1 hour ago, MRI said:

veedu veedi koduku velli tiruvottiyur center lo vongomanu

babu rajas...kaastha mooskuntara mee mugguru....chidambaram gadu annadantlo thappemundi....India ni sarvanasanam chesaadu Modi ee nirnayam tho...US lo kurchoni DBs lo sollu post lu eyyatam kadu...India lo prajalu chacchipothunnaru bcoz of this latkore decision....anthaku mundu bodi gadni nen kuda support chesevadni...but ee decision ki no

[kiladi bullodu]

5 minutes ago, Prince_Fan said:

 

 

babu rajas...kaastha mooskuntara mee mugguru....chidambaram gadu annadantlo thappemundi....India ni sarvanasanam chesaadu Modi ee nirnayam tho...US lo kurchoni DBs lo sollu post lu eyyatam kadu...India lo prajalu chacchipothunnaru bcoz of this latkore decision....anthaku mundu bodi gadni nen kuda support chesevadni...but ee decision ki no

i am in india bro

[Prabhas_Fan]

11 minutes ago, Prince_Fan said:

 

 

babu rajas...kaastha mooskuntara mee mugguru....chidambaram gadu annadantlo thappemundi....India ni sarvanasanam chesaadu Modi ee nirnayam tho...US lo kurchoni DBs lo sollu post lu eyyatam kadu...India lo prajalu chacchipothunnaru bcoz of this latkore decision....anthaku mundu bodi gadni nen kuda support chesevadni...but ee decision ki no

you are wrong chinnu

[kiladi bullodu]

Just now, Prabhas_Fan said:

you are wrong chinnu

chinnu has all black money 

 

[Prabhas_Fan]

1 minute ago, kiladi bullodu said:

chinnu has all black money 

 

Ikkada evadu ibbandi padatledu bhayya...manchi kosam line lo nilchoni dabbulu tisukodaniki evvaru feel avvatledu...media lo negative publicity ekkuva ayindi

[batman]

5 hours ago, Prabhas_Fan said:

Ikkada evadu ibbandi padatledu bhayya...manchi kosam line lo nilchoni dabbulu tisukodaniki evvaru feel avvatledu...media lo negative publicity ekkuva ayindi

agree. media over sensationalism. national channels lo ndtv

[Kool_SRG]

6 hours ago, Prabhas_Fan said:

Ikkada evadu ibbandi padatledu bhayya...manchi kosam line lo nilchoni dabbulu tisukodaniki evvaru feel avvatledu...media lo negative publicity ekkuva ayindi

Cities lo evadiki peddaga ibbandi since public have alternate sources of payments, koncham rural areas lo aite chukkalu kanapadutunnayi...Small business meeda bratike vaallaki chala tough time business are down by big margins due to this....Media will try to do that but all can't be ignored.

[Kool_SRG]

6 hours ago, Prince_Fan said:

 

 

babu rajas...kaastha mooskuntara mee mugguru....chidambaram gadu annadantlo thappemundi....India ni sarvanasanam chesaadu Modi ee nirnayam tho...US lo kurchoni DBs lo sollu post lu eyyatam kadu...India lo prajalu chacchipothunnaru bcoz of this latkore decision....anthaku mundu bodi gadni nen kuda support chesevadni...but ee decision ki no

Decision is kind of good but under preparedness spastamga kanapadutondi...Govt & RBI officials did miscalculations how to tackle this...

[JANASENA]

7 hours ago, Prabhas_Fan said:

Ikkada evadu ibbandi padatledu bhayya...manchi kosam line lo nilchoni dabbulu tisukodaniki evvaru feel avvatledu...media lo negative publicity ekkuva ayindi

Thanks for the update Darling. Naadoka chinna request mana DB konni kukkalu vasthayi kasepatlo idi akkada copy paste cheyyi 

[micxas]

10 hours ago, Prince_Fan said:

 

 

babu rajas...kaastha mooskuntara mee mugguru....chidambaram gadu annadantlo thappemundi....India ni sarvanasanam chesaadu Modi ee nirnayam tho...US lo kurchoni DBs lo sollu post lu eyyatam kadu...India lo prajalu chacchipothunnaru bcoz of this latkore decision....anthaku mundu bodi gadni nen kuda support chesevadni...but ee decision ki no

Chinnu ade sollu nuvvu chepthunavu anukovachu  why dont you just hold ur tongue ..   the people I know or spoke to in India are pretty much okay with this.

Manadi poyedhemi ledu anukunte prathivadu manavaatha vaade ledante intellectual 

[micxas]

2 hours ago, JANASENA said:

Thanks for the update Darling. Naadoka chinna request mana DB konni kukkalu vasthayi kasepatlo idi akkada copy paste cheyyi 

 

10 hours ago, Prabhas_Fan said:

Ikkada evadu ibbandi padatledu bhayya...manchi kosam line lo nilchoni dabbulu tisukodaniki evvaru feel avvatledu...media lo negative publicity ekkuva ayindi