A day after Finance Minister Arun Jaitley claimed in the Rajya Sabha that the economy was in the hands of a "terrible doctor" during the 10-year UPA rule, Chidambaram hit back at the BJP-led government, saying it had been a "terrible patient, unwilling or incapable of listening to a good doctor".
Claiming that key sectors, including health, education, agriculture and jobs, had not shown any growth under the BJP rule, Chidambaram alleged that the major challenges remained unaddressed, while there were only grand announcements and grand schemes.
Alleging that the country's economy was limping under the NDA rule, he said the government would contribute a new word to the Oxford English dictionary -- "jumla" (gimmick).
"The whole state of the economy...if Dr Arvind Subramanian (Chief Economic Adviser) has the freedom to pronounce...he will say the patient is very very ill. The patient may not be terminally ill, but the patient is very ill....
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Referring to the Congress leader's quip that the chief economic adviser -- the author of the "Economic Survey" -- was a very good doctor but the government was a terrible patient, Jaitley had yesterday said in the Rajya Sabha that even a bad patient ended up getting cured if the doctor was good.
Noting that in many ways, the BJP-led NDA government was luckier than the previous Congress-led UPA regime, Chidambaram said during the UPA rule, the price of crude oil had touched USD 147 a barrel and that within three months of the NDA coming to power, it had first fallen to USD 40 a barrel and then, below USD 40 a barrel.
"I can't remember a day when the prices of crude oil went below USD 100 a barrel (during the UPA rule). They (NDA) got a huge bonanza when the crude oil prices fell to USD 40 a barrel and remained so for almost two-and-a-half years," he said, delivering his first speech on the budget outside Parliament.
"Every budget assumes a crude oil price. Crude oil is the single commodity that will affect our inflation. Therefore, every budget had presumed that the crude oil prices would be between USD 60 and USD 65 (a barrel) and then made the numbers. The numbers may go wrong," he said.
Chidambaram also said there was no answer from Jaitley on the questions he had raised on crude oil prices.
"I had asked in Parliament that suppose petrol and diesel prices go up, crude oil prices go up, what will you do? Will you cut the excise duty and keep the prices at the same level or increase the prices of petrol and diesel? There is no answer so far," he said.