"I believe in stable tax rates. However, I must concede that there is an argument, underline the word argument, that when the economy requires, when the government requires more resources the very rich should willingly pay a little more.
"That is not to say that tax rate should not be stable. I think we should have stability in tax rates but we should consider the argument whether the very rich should be asked to pay a little more on some occasions," he told CNBC TV18.
However, he hastened to add, "but that is not a view I am expressing. That is simply an argument that I have heard and I am repeating."
Chidambaram said tax rates that were announced in 1997 (in the Budget he had presented then), have remained and have survived four governments and four finance ministers.
On the Budget to be presented next month, he said the Budget is not drawn up keeping an election in mind. "The election is a good 14 months away from the Budget. The Budget will be a responsible budget". MORE