Chidambaram hits out at Modi over 'grand stupid thought' jibe on Rahul
Congress vice-president Rahul Gandhi described GST as ?Gabbar Singh Tax? Photograph: (Zee News Network)
A day after Prime Minister Narendra Modi accused Congress vice-president Rahul Gandhi of propagating 'grand stupid thought' on Goods and Service Tax (GST), Congress leader and former finance minister P Chidambaram hit out at PM by saying CEA Dr Arvind Subramaniam and many other economists are stupid?
"If it is Grand Stupid Thought to argue for a cap of the tax rate at 18%, then CEA Dr Arvind Subramaniam and many other economists are stupid. Is that what PM is saying?,'' Chidambaram tweeted today morning.
If it is Grand Stupid Thought to argue for a cap of the tax rate at 18%, then CEA Dr Arvind Subramaniam and many other economists are stupid. Is that what PM is saying?— P. Chidambaram (@PChidambaram_IN) November 30, 2017
In December, 2015, a panel headed by Chief Economic Adviser Arvind Subramanian has recommended a standard rate of 17-18 per cent under the then proposed goods and services tax (GST). The panel had submitted its recommendations to Finance Minister Arun Jaitley.
The CEA report suggested a 40 per cent GST rate for luxury goods and tobacco at the higher-end and 12 per cent at the lower-end for essential goods.
''Has PM read the CEA's report on Revenue Neutral Rate? Did not CEA recommend an RNR of 15-15.5%?,'' former FM said in another tweet.
''Why can't the normal GST rate be 15% and RNR plus rate on luxury goods be 18%?,'' he said in another tweet.
The former FM also took potshots at the ruling NDA for not slashing the petrol and diesel prices despite the crude oil prices falling by 50 per cent since BJP led NDA came to power.
''Tax and spend is the credo of the BJP government. Example: when crude oil prices fell by 50%, prices of petrol and diesel remained the same,'' Chidambaram stated in another tweet.
Addressing a huge rally in Morbi town in Gujarat, which goes to polls in the first phase on December 9, Modi attacked Congress leader Rahul Gandhi for calling GST 'Gabbar Singh Tax' and said a recently emerged "economist" was propagating a "grand stupid thought" by suggesting that GST rate be capped at 18 per cent.