A day after demonetisation was announced, he had said in Parliament that it would lead to a cut in the growth rate by 1.5 percent, Chidambaram recalled.
The Serious Fraud Investigation Office (SFIO) is probing alleged financial irregularities at debt-laden Aircel as well as two group entities -- Aircel Cellular and Dishnet Wireless
Former Union minister P Chidambaram's son Karti controlled two firms which allegedly received Rs 1.16 crore as bribe money in the Aircel-Maxis money laundering case, the Enforcement Directorate (ED) today
The investigating officer of the case is expected to record Chidambaram's statement under the Prevention of Money Laundering Act (PMLA) today, like the last time, they added.
"When the market is totally confused about the objective of the government, nobody is going to bid... I think the Government was totally confused about what it wanted to do. "First it must sort out its mind before it attempts to tackle the Air India problem,"
He also questioned the veracity of the letter seized by police on Rajiv Gandhi-like plot to kill Prime Minister Narendra Modi calling it "unverified"
Addressing a press conference here today, he said a flawed road to GST continues to haunt trade and business, and the adverse effect of demonetisation have been established 'beyond doubt'.
The agency had alleged irregularities in the clearance of foreign investment in INX media, a venture promoted by former media baron Peter Mukerjea and his wife Indrani, sources said.
The agency had issued a fresh summon to him yesterday to appear before the investigating officer of the case.
At this, senior advocate Abhishek Manu Singhvi and advocate P K Dubey, appearing for Chidambaram, requested the court to fix the matter to July 10 when the court is already scheduled to hear the anticipatory bail plea of Chidambaram's son Karti in the same case.
Official sources said the agency has issued fresh summons to the senior Congress leader to appear before the investigating officer of the case.
"Private investment, private consumption, exports and government expenditures are four growth engines of an economy. It's like four tyres of a car. If one or two tyres are punctured, it will slow down but in our case, three tyres are punctured," the senior Congress leader said at an event organised by the Maharashtra Congress unit.
In the INX Media case, the CBI had registered an FIR on May 15 last year against alleged irregularities in the FIPB clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when Chidambaram was finance minister.
The court also sought the investigating agency's response on the Congress leader's anticipatory bail plea and listed the matter for further hearing on July 3.
According to advocate P K Dubey who filed the plea on behalf of Chidambaram, the matter was mentioned in-chamber before a bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar, which allowed it to be listed later today.
In a series of tweets, the former finance minister said the bonanza to central government is Rs 25 on every litre of petrol and this money rightfully belongs to the average consumer.
In separate tweets, Chidambaram also asked all chief ministers to oppose the terms of reference (ToR) of the 15th Finance Commission, which he said was the central government's "attempt to violate the Constitution and wreck the federal system".
"BJP is trying to enter South India through Karnataka and we should stop them. It is a danger signal for the diversity of South India," he added. Sharply criticising Prime Minister Narendra Modi, Chidambaram said he should maintain the dignity of his post.
Speaking to reporters here, the former union minister also said that the prime minister's attack on Sonia Gandhi and Rahul Gandhi, while raking up the National Herald case at a poll rally, will have no impact on electoral prospects of the Congress party in the May 12 Karnataka assembly polls as all charges were "bogus".
"What is holding up Justice K M Joseph's appointment? His State or his religion or his judgement in the Uttarakhand case?
The Congress, however, downplayed it saying the party did not want to involve its senior leaders in the issue.
In the wake of cash crunch in some parts of the country, he also said there was a possibility that people have lost confidence in the banking system due to the "bank scams" and they were not putting their surplus money into the banks.
In a series of tweets, Chidambaram said as a rule, cash supply must grow at the same rate as the economy is growing and the government was obliged to provide as much cash as people need at any given time.
Karti was questioned for the first time by the ED in connection with the case which is related to the Foreign Investment Promotion Board (FIPB) approval granted in 2006 by his father.
Chidambaram was "horrified" at the high price of tea at the Chennai Airport