Modi can't ensure higher growth: Chidambaram
Finance minister P Chidambaram defended UPA's record on the economic front, saying it delivered India's highest growth rate in any five-year period.india Updated: Feb 22, 2014 22:24 IST
Finance minister P Chidambaram defended UPA's record on the economic front, saying it delivered India's highest growth rate in any five-year period.
Chidambaram was fielding questions from students, economists and professionals on Headlines Today's Right to be Heard Townhall debate.
"UPA has delivered the highest growth rate in any period of 5 years since independence. That is a fact you can't rubbish or forget. And despite an international economic crisis, a fragile global economy, we are delivering in the second period of 5 years 6.6 percent which is higher than the trend rate of 6.2 percent which India saw in last 33 years," he said.
Chidambaram added that Gujarat isn't the top notch state when it comes to attracting investments. "Data shows Maharashtra, Haryana, NCT of Delhi, Tamil Nadu, Karnataka and Odisha attracted most investment," he said.
Keeping up his attack on Modi, Chidambaram questioned his claim that India can grow at 10 percent in current scenario.
"Of course, he says that, but without understanding the current macro-economic situation. Even China doesn't do 10 percent today. Every country is struggling to keep its head above the water. There are only half a dozen countries that are growing at over 5 percent," the finance minister said, replying to a question on Modi's claims.
He also defended his remark in which he had questioned the economic understanding of the BJP's prime ministerial candidate. He said that since Modi hasn't spoken on key economic issues concerning the economy, it is difficult to gauge his understanding.
"Modi doesn't speak to the media, he doesn't answer questions, he hasn't spelled out his views on fiscal deficit, current account deficit, monetary policy, on GST, on DTC. These are burning issues concerning the economy," Chidambaram added, implying that Modi must make public his views on these issues.