Chidambaram mocks Modi for 'first lesson in economics'
November 30, 2013  14:22
Union Finance Minister P Chidambaram on Saturday took potshots at Bharatiya Janata Party's prime ministerial candidate Narendra Modi over his remarks allegedly made at an election rally in Rajasthan's Jodhpur district. 

While addressing a rally in Sardarpura, Jodhpur, Moid had said that the Finance Minister has attributed inflation to buying gold. 

Strongly rebutting Modi's remarks, Chidambaram has sent a letter to the Gujarat Chief Minister, details of which are: 

After his lessons in history, Shri Narendra Modi has delivered his first lesson in economics. As reported by the Indian Express, he said at Jodhpur: The Finance Minister attributes inflation to buying gold. I am not as educated as him.but I know inflation is not because of buying gold but due to corruption. 

I recall having said on many occasions that buying gold which is almost entirely imported worsens the Current Account Deficit (CAD). I don't recall saying that buying gold causes inflation. Anyway, all economists may take note of the new lesson. 
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