Rajdeep Sardesai spoke to senior congressional leader and former Union finance minister P. Chidambaram about inflation and other pressing issues.
Congressman and former Union Finance Minister P. Chidambaram at a press conference in New Delhi on Tuesday (Photo: PTI)
Rajdeep Sardesai, editor of India Today TV Consulting, spoke to senior congressional leader and former Union finance minister P. Chidambaram about inflation and other pressing issues. Excerpts:
Q: The government says who is the Congress that is lecturing on inflation? It is said that inflation was higher during the rule of Congress. Your answer?
So Congress is not going to talk about it. So who is going to talk about it? What’s this? Ten years ago there was inflation. Hence my current inflation is justified. That is the most ridiculous argument I hear from political parties. Yes, there was high inflation between 2009 and 2011, but it was brought under control in 2012 and 2013. And what? We are not now evaluating the government from 2009 to 2012. We are evaluating the government in office today. So please answer: Why is inflation so high? And why don’t you take the visible and obvious steps? That is the question. We must put an end to this nonsense. And I would ask the media to put an end to the “what is”.
It is time to take economic steps to alleviate the economic troubles of the third wave: Ex-FM @PChidambaram_IN | #News today pic.twitter.com/XmnwOVwzcV
– IndiaToday (@IndiaToday) July 13, 2021
Q: The government says some of the congressional states have high taxes on fuel. Why don’t you lower taxes too? Why only the center? Your answer?
There is no way they can get away with that. Center collects excise duties; States also levy state taxes. Nobody denies that. But the center’s taxes are higher than the state’s. Let’s say they cancel each other out. But what about the zessen? On Gasoline, the consumption is Rs 33 per liter; The consumption of diesel is 32 rupees per liter. Approval can only be issued by the center. And all of this income goes to the center. The center collects Rs 4.2 lakh crore in cesses. How is that justified?
Q: Would you like all waste fuel to be removed?
I am not saying that all aborts should be removed at once. Remove Rs 5 from gasoline, Rs 5 from diesel. Immediately there will be some relief for people. And if your non-gasoline and diesel-free earnings are increasing – and you should be looking for ways to increase your other earnings – then reduce the outflows. Cess are bad taxes. As a rule, penalties are imposed for a specific purpose and for a specific period of time. A tax cannot be a general tax that is there forever.
Cess are bad taxes, they are usually levied for a specific purpose for a period of time: Ex-FM @PChidambaram_IN | #News today With @sardesairajdeep pic.twitter.com/MxUYxX1gsR
– IndiaToday (@IndiaToday) July 13, 2021
Q: The government says we are in the middle of a pandemic and need oil revenues to keep public spending going …
Government spending itself is questionable. For example, why did you give the corporate sector tax rebates of 1.45 lakh crore? Totally unnecessary. Look at the profits people made when the pandemic raged. Check out the net worth of the top 20 commercial buildings. Look at the market capitalization. Last year you wrote off 4.50 lakh crore of bank loans to the corporate sector. This is not change.
Q: Do you think now is the time to get fuel under the GST?
Not under the current dispensation. There is a complete breach of trust between the center and the states. The Center treats the GST Council with little respect. The states are at war with the center.
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