Good economics points to one direction, Modi govt points to another: Chidambaram

Senior Congress leader P Chidambaram on Tuesday attacked the government over the state of the economy, saying "good economics" points to one direction, while the Modi dispensation points to another.

The former finance minister, who is currently lodged in Tihar Jail in a corruption case, congratulated Indian-origin economist Abhijit Banerjee for winning the Nobel Prize.

"Hearty congratulations to the Nobel Prize winner Abhijit Bannerjee. We remember with gratitude his contribution to the Congress Manifesto," Chidambaram said in a tweet.

"Listen to what Dr. Bannerjee said yesterday and what Dr. Raghuram Rajan said at Brown University. Good economics points to one direction, Mr Modi's government points to the opposite direction," he said.

Chidambaram's family has been tweeting on his behalf from his Twitter account ever since he was sent to jail.

Banerjee had on Monday said the Indian economy is on a shaky ground and the data currently available does not hold any assurance for the country's economic revival anytime soon.

Rajan had reportedly said at the Brown University that "majoritarianism may certainly for a while win elections, but it is taking India down a dark and uncertain path".

Chidambaram has been critical of the Modi government's handling of the economy and has held demonetisation and "faulty implementation" of GST as the main reasons for the economic slowdown.