oppn parties Chidambaram Suffers From Amnesia, Forgets His 5%, Mocks NDA For Low GDP Growth

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  • Media person Rajat Sharma resigns as DDCA president
  • Shiv Sena, NCP and Congress postpone meeting the governor of Maharashtra
  • Shiv Sena not to attend the NDA meeting on 17th November, says break up "a formality"
  • Shiv Sena says that the confidence the BJP is showing about forming the government in Maharashtra is based purely on its expectation of getting numbers through horse trading
  • Anil Ambani resigns as director of the bankrupt Reliance Communications
  • India beat Bangladesh by an innings and 150 rums inside three days in the first Test. Indian pacers excel after Mayank Agarwal's double century
  • Sena-NCP-Congress work out a common minimum programme, will form the government soon and it will last 5 years, says Sharad Pawar
  • Income Tax Appellate Tribunal upholds the decision to withdraw the charitable status of Young India, making it liable to pay Rs 145 in income tax. Rahul Gandhi and Priyanka Vadra are the majority shareholders in the company
  • CBI raids offices of Amnesty International across India
  • Supreme Court quashes NCLAT order against Arcelor Mittal and paves the way for the company to take over ailing Essar Steel
  • Finance Minister Nirmala Sitharaman says concerns of telcos will be addressed and no company will close down
  • Government thinking of providing higher insurance coverage on bank deposits
  • Mayank Agarwal scores a double century as India take firm grip on the first Test versus Bangladesh
  • Supreme Court warns Rahul Gandhi to be more careful in future but drops contempt proceedings in the "chor" case
  • In a flip-flop, Vodafone CEO says sorry to the government, sys no plan to exit India
Supreme Court dismisses plea for review in Rafale case, says no need for roving inquiry, maintains clean chit to government
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Chidambaram Suffers From Amnesia, Forgets His 5%, Mocks NDA For Low GDP Growth

By A Special Correspondent

If there is one thing that most Indian politicians do not possess, it is shame. The way P Chidambaram, being taken to jail as someone alleged to have misused his official position to grant favours to his son's 'clients', tried to mock the government by saying "you know what is 5 percent? You remember 5 percent," and the way he righteously said that he was "worried about the economy" just shows that he is shameless. He very conveniently forgot that during his tenure as the finance minister, during 2012-13, the economy grew by just 4.8% in the last quarter and grew at just about 5% for the whole year.

Despite being the finance minister at that time, Chidambaram had not displayed any concern for the economy. He was not worried then. In fact, he displayed nonchalance, even arrogance, when questioned about the decline in growth at that time. Then why is he worried now? Having been in the finance ministry, can't he recognize that this is a cyclical slowdown? Or is his analysis clouded by political colours?

Whatever be the cause, despite accusing the government of making his arrest a spectacle for television audiences, Chidambaram is also guilty of playing to the gallery. His remarks were almost Kadar Khanesque. At other times, he is given to long lectures. But while being whisked away to jail, he forgot his scholarly credentials and entertained the journalists and the whole country with some drama, perhaps to show that he was not worried at being arrested.

P Chidambaram has a lot to answer. Under his charge, the finance ministry is alleged to have allowed massive inflow of foreign funds to INX Media. His son, Karti Chidambaram, is alleged to have brokered the deal. In the Aircel-Maxis case, he is alleged to have withheld FIPB clearance to the merger deal till his son got a 5% stake in Aircel. These are serious charges of misuse of office. The Chidambaram family reportedly owns various properties abroad the combined value of which is mindboggling. Chidambaram has to answer these and many other questions that will crop up when he is brought face to face with others who have been arrested in both cases. The case charge sheets will be filed (Karti has some questions regarding this which might be answered sooner than he thinks) and the money trail will also be reconstructed. It is not going to be easy for the father-son duo.