Chidambaram 'praises' Modi for controlling milk inflation
- IndiaGlitz, [Tuesday,January 31 2023]
Netizens are debating on the inflation in the prices of milk. The debate has been triggered by a tweet from former Finance Minister P Chidambaram.
Here is what the Congress leader tweeted: In May 2014, when the UPA government demitted office, prices of Full Cream milk and Toned milk were Rs 48 and Rs 38 per litre respectively. At the end of 8 years, under the NDA government, prices are Rs 64 and Rs 52 per litre respectively. That is an increase of Rs 16 and Rs 14 per litre.
His tweet was meant to be critical of Modi, but it ended up sounding like a compliment.
IMF's Executive Director Dr. K Subramanian said that the increase in prices means that inflation on full cream milk was just 3.6% per annum and that on toned milk was just 4.0% per annum. Which means, both were less than the inflation target of 4%, he added.
Rishab Mukherjee concluded that Chidambaram was actually praising Modi. That's 3.6% year-on-year inflation. An increase in Per Capita Income has roughly been the same. The kicker though is that in 2020-2022 PCI growth was flat and inflation was high. Both are completely externally driven. So, unless your intention is to praise the PM Modi-led government, not sure what your point is, he added.
In May 2014, when the UPA government demitted office, prices of Full Cream milk & Toned milk were Rs 48 & Rs 38 per litre respectively
— P. Chidambaram (@PChidambaram_IN) January 30, 2023
At the end of 8 yrs, under the NDA government, prices are Rs 64 and Rs 52 per litre respectively
That is an increase of Rs 16 & Rs 14 per litre