Chidambaram hits out at Government for ‘squeezing’ money out of people


The former Finance Minister P. Chidambaram hits out after Centre hikes taxes on petroleum products. Instead of cash transfers to the people, the government has done a “cruel” transfer from the people, he said.

In a series of tweets, Mr. Chidambaram slammed the Centre for ‘squeezing’ and taking is money out of people.

“New or higher taxes are justified only when the economy is booming. Tax burden on the middle class and poor is actually taxing distress. Governments should GIVE money to the people in times of distress, not SQUEEZE and TAKE money from the people,” he tweeted.

“We have been pleading for cash transfers from the government to the bottom half of the people/families. Instead governments are doing a REVERSE TRANSFER of money from the people to the government! Cruel,” he added.

The former Finance Minister said new or higher taxes will “impoverish” families further.

“Governments must borrow to meet their deficits, not impose higher tax burdens when economic activity has ground to a halt,” he said.