 "Subbarao not saying anything new, I too had said the same, says Chidu")
New Delhi,: Finance Minister P Chidambaram today reacted to RBI Governor D Subbarao’s comments on the reasons for the current economic woes, saying this is what he had said a couple of days ago.
“This is no different from what I said day before yesterday,” he told reporters here when asked to comment on Subbarao’s criticism of government policies leading to a slowdown in the economy.
[caption id=“attachment_1070925” align=“alignleft” width=“380”] P Chidambaram in today’s press conference. PTI[/caption]
Subbarao blamed the “loose fiscal stance of government during 2009-12” for slow growth and high inflation. “Had the fiscal consolidation been faster, it is possible that monetary policy calibration could have been less tight,” he said in his last public lecture as RBI Governor.
Speaking in Parliament on Tuesday, Chidambaram attributed the current woes not just to external factors, but to domestic factors allowing the fiscal deficit to be breached and the current account deficit to swell because of decisions taken during 2009-2011, a period when Pranab Mukherjee was the Finance Minister.
PTI
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
