Home News Reports Chidambaram accuses Modi government of fiscal indiscipline, netizens cannot stop laughing

Chidambaram accuses Modi government of fiscal indiscipline, netizens cannot stop laughing

It was the UPA government who had left the nation with a burden of a huge NPA mess and oil bonds of Rs 2 lakh crores to be paid by the Modi government.

Former finance minister P Chidambaram, who, along with his wife and son, has been busy seeking protection from arrest from various courts across the country for a number of bribery and tax evasion cases, has accused the Modi government of financial inefficiency.

In a Tweet, Chidambaram, the accused of Aircel-Maxis and INX Media scams, who is also accused of signing the controversial order of 20:80 scheme that benefitted Mehul Choksi, has stated that the Modi government is following a ‘scorched earth’ policy by promising big schemes for which there is no money.

As expected, the stark irony of Chidambaram, whose government had first reaped the benefits of the NDA government’s policies after 2004 and then managed to drive the nation’s economy to one of the worst performing spells in its 10-year-rule, criticising the Modi government’s policies was not lost on Twitter users.

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Twitter users reminded the former finance minister of his government’s enduring legacy of NPAs, oil bonds and failure to implement schemes like OROP for the apparent lack of money.

Chidambaram was also reminded of the raids and cases going in against him and his family members.

Some Twitter users did not even bother going into the details of UPA financial mess. They just pointed out to Chidambaram that he should not be worrying about it.

PM Narendra Modi, in one of his addresses in the parliament, had stated that the burden of NPAs the UPA government had left over the country could have paralysed India’s economy. He had stated that between 2008 to 2014 during UPA rule, banks gave Rs 52 lakh crores in loans as compared to 18 lakh crores in the last 60 years.

Similarly, the UPA government where Chidambaram was the finance minister, had passed on a colossal debt of oil bonds to be repaid to oil producing companies to the tunes of Rs 2 lakh crores, of which 70,000 crores was paid as interest. The amount had to be paid off by the Modi government.

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