Government economists critical of budget provisions: Chidambaram

Former Finance Minister and senior Congress leader P. Chidambaram on Tuesday said that every economist of the government is speaking against the Union Budget provisions, leading to a chorus of dissent growing against it.

"The chorus of dissent against budget provisions grows. Dr Arvind Panagariya (former NITI Aayog Vice Chairman) speaks against protectionist custom duties," Chidambaram said on Twitter.

"Dr Rathin Roy, Member, PMEAC (Prime Minister's Economic Advisory Council) joins Dr Panagariya. Dr Surjit Bhalla, another Member, PMEAC, speaks against LTCG (long term capital gain tax)," he added.

Chidambaram further said: "Dr Rajiv Kumar, Vice Chairman, NITI Aayog, hopes that these measures are 'temporary'!"

"Dr Urjit Patel, Governor, RBI (Reserve Bank of India), warns of five taxes on capital and how it will inhibit capital investment. Every economist of the government speaks against budget provisions!" he added.

Chidambaram further said: "World stock exchanges protest government-inspired NSE/BSE restrictions on sharing data with other exchanges as protectionist."

--IANS

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