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Chidambaram mocks Finance Ministry, says they must be complimented for ‘improving’ macro-economic situation in 4 months
"Four months and 10 days is the time taken for commonsense to germinate, flower and ripen into a fruit," Chidambaram said, pointing at the GST Council's decision to slash tax rates.
Responding to the latest changes made in the Goods and Service tax rates at the GST Council meeting held in Guwahati on Friday, former finance minister P Chidambaram on Saturday mocked the central government saying, “Ministry of Finance must be complimented for ‘improving’ macro-economic situation in four months and 10 days.” In a tweet, Chidambaram said: “Four months and 10 days is the time taken for commonsense to germinate, flower and ripen into a fruit,” he said, pointing at the GST Council’s decision to slash tax rates.
In a move to shore up public spending and revive investor sentiment, the government had cut down tax rates on 200 items, ranging from chocolates to wristwatches, in the biggest Goods and Services Tax (GST) revamp yet. The decision, meant to provide relief to consumers and businesses, was taken at the 23rd GST Council meeting in Guwahati, Assam, on Friday.
Only 50 items left in highest GST slab
Meanwhile, on Friday, Chidambaram had tweeted saying GST rates have been revamped because of Gujarat Elections,”Thank you Gujarat. Your elections did what Parliament and common sense could not do.”
“The merits of capping GST at 18 per cent is now recognised,” he added, saying that the Congress had earlier demanded a cap of 18 per cent for all taxes under the Goods and Service tax regime.
