LIVE! Yashwant Sinha says Chidambaram is an incompetent doctor
August 27, 2013 15:49
A former finance minister ripped apart current finance minister P Chidambaram in Parliament today. Opposition leader and former Finance Minister Yashwant Sinha today said that the rupee value was determined by the market, but the government and the RBI had a responsibility to control the volatility in the currency.
"Such volatility is not good for our economy," he said. Consumer price index (CPI) has been over 10 per cent since 2008. The consumption expenditure was raised by the government with an eye on the 2009 elections, Sinha claimed.
"The government has been blaming RBI's policies, but what can the RBI do?" Sinha asked. "Paralysis of decision making is the problem. American economy is recovering and we are crying that their recovery is affecting us adversely. Earlier when their economy was suffering, the government said, the Indian economy is affected by that," Yashwant Sinha added.
"Such volatility is not good for our economy," he said. Consumer price index (CPI) has been over 10 per cent since 2008. The consumption expenditure was raised by the government with an eye on the 2009 elections, Sinha claimed.
"The government has been blaming RBI's policies, but what can the RBI do?" Sinha asked. "Paralysis of decision making is the problem. American economy is recovering and we are crying that their recovery is affecting us adversely. Earlier when their economy was suffering, the government said, the Indian economy is affected by that," Yashwant Sinha added.
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