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P. Chidambaram

@PChidambaram_IN

Aug 1

Excerpts from my interview to Indian Express:

How do you see President Trump’s tariffs and penalty on certain imports from Russia?

He (Trump) has set August 1 as a deadline. What I gather is the negotiations are not going forward in the way that we expect. But he is a very impulsive President. Therefore, he announced it two days before the August 1 deadline. Be that as it may… I just read that in the last few hours, he has said ‘Whether we will charge the tariff that I announced’ and ‘We will let you know by this week’... Whatever he meant by that. Therefore, although he has announced a 25% tariff, whether he will stick to that, I cannot say.

How does India navigate ties with a President who you call impulsive?

France, the UK and some Latin American countries are dealing with President Trump and the United States. They do not take a defiant attitude. At the same time, they do not bend over. We have to maintain our position and tell the United States that we are willing to negotiate.

Negotiating a trade agreement with the United States is not easy. It is painstaking. The big obstacle is that we had — and in many cases still have — is high tax. As a result of that, the trade balance between the United States and India is almost $45 billion in our favour. We can say the same thing about our trade with other countries, where the trade balances in favor of the other country. But that is part of the world of commerce… We will have to deal with it. We do not have to bend over. At the same time, we do not have to be defiant.

Japan and Korea have trade deals with the US. Is that the best way to navigate the situation?

There is a difference. Japan is a developed country. South Korea is a developed country. They have a wider basket of exports. They have also freed imports to a large extent.

Therefore, it is easier for them to open up a little more in exchange for the United States opening up a little more. We were a closed economy. In fact, when I took over as Commerce minister, we were completely closed. We have opened it significantly but not to the extent of developed countries.

It is more difficult for us to enter into a trade agreement with the United States than Japan and South Korea. There are other countries in the same league as India. They will also find it difficult to enter into trade agreements with the United States. But we have to persevere, and we have to go through the exercise.

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P. Chidambaram

@PChidambaram_IN

Apr 5, 2023

The notification including three blocks in the Kaveri delta region for coal mining is absolutely shocking and retrograde

No Government in its senses will reserve fertile, paddy-growing land for mining of coal

Coal will be the basic fuel of India for many years, but paddy cultivation and livelihoods of farmers are more important than coal

There is enough coal-bearing land in India and there is no need to encroach upon cultivated land

Besides, coal is a dirty fuel and all over the world there is a movement to reduce the dependence on coal. Here, we have a government that gives priority to dirty fuel over food!

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P. Chidambaram

@PChidambaram_IN

Mar 22, 2023

While praising the NDA government's drive on infrastructure, The Economist has added pertinently "How has Mr Modi achieved this lift-off? One answer is that he inherited a solid platform from his two immediately predecessors -- Vajpayee and Manmohan Singh"

The magazine has cautioned "the rapid expansion of infrastructure has not spurred the increase in private investment in the economy at large that many had hoped for"

The Economist asked "what is dissuading them?"

"Business people whisper other reasons for caution. Mr Modi's government can be capricious. Its use of tax authorities to go after political foes has weakened faith in their impartiality"

Also, "Regulators' independence can no longer be taken for granted"

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P. Chidambaram

@PChidambaram_IN

Feb 5, 2023

A Delhi trial court has held that Sharjeel Imam and 10 others were made "scapegoats" in a case connected with incidents of violence in Jamia Millia Islamia in 2019

Was there even prima facie evidence against the accused? The Court's conclusion: unequivocal no

Some accused have been lodged in jail for nearly three years. Some got bail after many months. This is pre-trial incarceration.

An inept police and over-zealous prosecutors are responsible for keeping citizens in jail before trial. What action will be taken against them?

Who will give back the months or years that the accused spent in jail?

Our criminal justice system that tolerates pre-trial incarceration is an affront to the Constitution of India, especially Articles 19 and 21

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P. Chidambaram

@PChidambaram_IN

Feb 4, 2023

The Government's excuse for scrapping the Maulana Azad National Fellowship and the subsidy for education loans to study abroad to minority students is grossly irrational and arbitrary.

Even admitting that there are 'overlapping' schemes, is the fellowship and subsidy to minority students the only schemes that overlap with another scheme?

MGNREGA overlaps PM KISAN. Old Age
Pension overlaps MGNREGA in the case of old workers. There are dozens of such overlapping schemes

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P. Chidambaram

@PChidambaram_IN

Feb 2, 2023

The mystery of the New Tax Regime (NTR) is unravelling

Read the analysis and the tables in the major newspapers

As per THE HINDU, the Old Tax Regime (OTR) is more beneficial upto an income level of Rs 35 lakhs

As per TOI, there is no difference upto an income level of Rs 2 crore

As per Economic Times, the Old Tax Regime is more beneficial upto an income level of Rs 60 lakh

If you are a taxpayer, don't rush to conclusions. Do your math, consult a Chartered Accountant

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