Chidambaram rejects Modi's 'lesson in economy'

Denies saying that buying gold causes inflation

In another dig at Narendra Modi, Finance Minister P Chidambaram today said the BJP Prime Ministerial candidate was giving his "first lesson in economy" and denied he had ever said that buying gold causes inflation.

"After history lesson, Narendra Modi has delivered his first lesson in economics...I recall having said on many occasions that buying gold, which is almost entirely imported, worsens current account deficit (CAD). I don't recall saying that buying gold causes inflation," Chidambaram said in a statement here.

He was apparently referring to several goof-ups by Modi in his recent speeches relating to ancient history and some other events

With an obvious tinge of sarcasm, Chidambaram asked economists to "take note of the new lesson" by Modi.

The Finance Minister was responding to the reported remarks of Modi at an election rally at Jodhpur in which he had said that Chidambaram has attributed inflation to buying gold.

"I am not as educated as him...But I know inflation is not because of buying gold but due to corruption," Chidambaram's statement quoted Modi's remarks in newspapers.