Chidambaram, Modi trade barbs in gold bout

Finance minister P Chidambaram and BJP prime ministerial candidate Narendra Modi engaged in a verbal duel over the state of the economy on Saturday.

Finance minister P Chidambaram and BJP prime ministerial candidate Narendra Modi engaged in a verbal duel over the state of the economy on Saturday.

It started with Chidambaram hitting back at Modi for his remarks that the finance minster believed buying gold causes inflation.

“After history lessons, 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 the current account deficit. I don’t recall saying buying gold causes inflation,” Chidambaram said in a statement.

The reference to history and economics lessons was a dig at Modi for his recent goof-ups on historical events.

Modi shot right back, “It is unfortunate that in giving lessons to me, the finance minister has to resort to lies.” He also posted a video on Twitter stating, “Chidambaramji, this video might help you comprehend what I had exactly said on gold and economy.”

Targeting Chidambaram and Prime Minister Manmohan Singh, Modi has often said in his rallies that their “bookish knowledge” was ruining the economy.