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Last Updated : Nov 10, 2018 03:26 PM IST | Source:

'Fudging figures': Fiscal deficit in FY14 was 4.4%, not 5.1%, says Chidambaram

The senior Congress leader countered the figure mentioned by Economic Affairs Secretary Subhash Chandra Garg.

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Moneycontrol News 

Former finance minister P Chidambaram on Saturday countered Economic Affairs Secretary Subhash Chandra Garg's claim that fiscal deficit in FY14 was 5.1 percent. Chidambaram, who was finance minister from July 2012 to May 2014, said that fiscal deficit in 2013-2014 was 4.4 percent.

Chidambaram also accused the govenrment of "fudging figures".

Subhash Chandra Garg had on November 9 said the government is sticking to its fiscal deficit target of 3.3 percent for the current financial year.

He also denied that the government asked the Reserve Bank of India (RBI) to transfer funds.

Garg added that the economic capital framework needs to be reworked.

Also read: Govt says not eyeing RBI's surplus, but need to fix capital policy

Chidambaram had on November 9 criticized the Bharatiya Janata Party (BJP), accusing it of taking India "on a path of conflict and economic disaster".

Continuing his tirade against the BJP, Chidamabaram had asked, "Where is the promise of doubling farmers' income, reducing the prices of food and fuel, restoring the exchange value of the rupee to Rs 40 per US dollar, putting an end to alleged tax terrorism, achieving double digit GDP growth rate?"

The senior Congress leader added that he would hold an open-house consultation for the party's manifesto for the 2019 Lok Sabha election.


First Published on Nov 10, 2018 12:49 pm
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