Finance Minister hits back at Chidambaram

Mumbai: Union Finance Minister Nirmala Sitharaman on Monday criticised Congress leader P Chidambaram over his comments on the withdrawal of Rs 2,000 currency note and said to cast aspersions on matters of this nature "does not augur well with the former finance minister". She was speaking to reporters here as a part of press conferences being held by Union ministers in different parts of the country on the completion of nine years of the Narendra Modi government.

Chidambaram on Monday said the introduction of Rs 2,000 note and its subsequent withdrawal have cast doubt on the integrity and stability of the Indian currency.

He also said the key economic indicators are pointing downward and there is low confidence that the economy will reach the high growth path. The Reserve Bank of India recently announced withdrawal of Rs 2000 notes from circulation and asked people to deposit it in banks or get it exchanged by September 30.

Asked about Chidambaram's comments, Sitharaman said, “To cast aspersions on the matters of this nature, currency, decision of the central bank does not augur well with the former finance minister who has been with the ministry." "The (UPA) government lasted for 10 years, in which for a large part he was finance minister. There were several questions we had raised in Parliament and we never had a substantial answer for them,” she said. “I would think it is better for all of us to understand the situation and provide observations which are commensurate with the office he had held and not be frivolous about commenting and judging it,” Sitharaman said.