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Former Finance Minister takes a dig at Finance Minister Nirmala Sitharaman over ‘an act of God’ statement

Former Finance Minister P Chidambaram took twitter to oppose the 2 options given by the Modi Government to the states to bridge the GST compensation gap. On Thursday Finance Minister had said that,” This year we are facing an extraordinary situation. We are facing an act of God where we may even see a contraction of the economy.” Taking a dig at Nirmala Sitharaman over this statement, P Chidambaram said,” If the pandemic is ‘an act of God’ how we describe the mismanagement of the economy during 2017-18,19 before the pandemic struck India? Will the Finance Minister as the God of Messenger please answer?”

He further said in the tweet, “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.”

Shree Panjurlli Fine Dine ADD

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