This Article is From Nov 30, 2013

Chidambaram taunts Narendra Modi on 'first lesson in economics'

Chidambaram taunts Narendra Modi on 'first lesson in economics'

File photo of Narendra Modi

New Delhi: In another dig at Narendra Modi, Finance Minister P Chidambaram today said the Bharatiya Janata Party's prime ministerial candidate was giving his "first lesson in economy" and  denied he had ever said that buying gold causes inflation.

"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.