Former finance minister P Chidambaram today said the state of the economy was bad due to wrong policies of the NDA government and that the tyres of three of the four wheels on which the economy rides were punctured.
Addressing a press conference here, he said a "flawed road" to Goods and Services Tax (GST) continued to haunt trade and business, and that the adverse effect of demonetisation had been established "beyond doubt".
He also advocated bringing petrol and diesel under GST and asked why the central government was passing the buck to states. If the BJP was committed to bringing petrol and diesel under GST, it should go ahead and do it, he said.
"Why are you blaming a few finance ministers from non-BJP (state) governments? If you bring petroleum products under GST, the prices will decline immediately. I am not saying cut it by Rs 25...Cut it by Rs 5, Rs 6 or Rs 7. Why you are cutting it by one paisa?"
The former finance minister said he had no expectations from the CBDT. "The best thing they can do is to give a quiet burial to the CBDT."