
File photo of Narendra Modi
"After history lesson, Narendra Modi has delivered his first lesson in economics...I recall having said on many occasions that buying gold, which is almost entirely imported, worsens current account deficit (CAD). I don't recall saying that buying gold causes inflation," Mr Chidambaram said in a statement.
He was apparently referring to several goof-ups by Mr Modi in his recent speeches relating to ancient history and some other events
With an obvious tinge of sarcasm, Mr Chidambaram asked economists to "take note of the new lesson" by Mr Modi.
The remarks were reportedly made by Mr Modi at an election rally in Jodhpur where he had said that Mr Chidambaram has attributed inflation to buying gold.
"I am not as educated as him...but I know inflation is not because of buying gold but due to corruption," Mr Chidambaram's statement quoted Mr Modi's remarks.