P Chidambaram Says Budget Will Impact Micro, Small And Medium Traders

P Chidambaram Says Budget Will Impact Micro, Small And Medium Traders

Latest News: P Chidambaram, the former Finance Minister said on Saturday that the new implementations of Goods and Services Tax (GST) would severely a

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Latest News: P Chidambaram, the former Finance Minister said on Saturday that the new implementations of Goods and Services Tax (GST) would severely affect the micro, small and medium traders. He said this is not how the law was originally planned. 

It is reported that Chidambaram said the Congress is not against the GST, but the way it has been implemented.

He said some more time was requested by the traders for GST implementations but the government did not pay heed and refused anymore time. According to him, the GST will impact inflation.

He said no private investments are taking place as people are not investing. They do no wish to invest. The. Foreign portfolio investment that was positive till October also turned net negative in November and December. Chidambaram went on to say he does not know what objectives are of the government, what their goal is and what their overarching vision is.

He also spoke on demonetization, saying 40 crore people were completely devastated by that move for about two months. People had no money, income or wages. Families have gone hungry. He said the 40 crore affected people may forgive but will not forget the experience they went through.

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