New Delhi: After strong attack from the Opposition on the rising prices, Finance Minister P Chidambaram on Monday countered his NDA predecessor Yashwant Singh.
Chidambaram said the BJP-led regime's ill-conceived policies to tame inflation had slowed down economic growth.
"After 2000-01, the year of high inflation, the fiscal and monetary steps taken by the NDA government effectively pushed down growth to an average of 4.66 per cent in three years. We do not intend to commit that mistake," PTI quoted him as saying.
Attacking Chidambaram on Budget, Sinha had alleged that he failed on all accounts including inflation and revival of agriculture sector.
"In the five years that he (Sinha) was finance minister in the NDA government, the average GDP growth rate was 5.32 per cent" and left office with high fiscal and revenue deficit,” Chidambaram said.
"In fact, the record of Yashwant Sinha in terms of GDP growth rate, fiscal deficit and revenue deficit is the worst in recent years," he said.
Quoting Sinha's Budget speeches in 1991 and 1998 to rebut charges of being arrogant, Chidambaram said Sinha had instead blamed his predecessors for all limitations of the economy.
"Having set such standards of sobriety and restraint, Shri Yaswant Sinha advised me to follow his example. I am glad I have not followed his example," he said.
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