BJP MP Subramanian Swamy predicted that both Congress supremo Sonia Gandhi and former Finance Minister P Chidambaram will goes to jail ahead of 2019 polls. Stating that National Herald case will come to hearing in January, which would send Sonia Gandhi to jail and Chidambaram soon be in jail in the alleged bribery case.
Speaking on ‘Is the Indian Economy in a tailspin?,’ organised by the FICCI FLO, in Hyderabad last evening, he revealed that Chidambaram wanted to join BJP. “But I stalled his entry to the party”, he said.
Strongly criticising the Finance Ministry structure, he held it responsible for making it easy for the likes of Vijay Mallya to leave the country even as they have large loans to be repaid. “Mallya moved out of the country because he had friends in the Government,” he alleged, adding that the government needs to be liberal towards new entrepreneurs and not to the influential.
“There should not be any income tax or corporate tax for entrepreneurs for the first 10 years,” he said adding that he would abolish income tax and participatory notes if he were to be made the Finance Minister. He also said the current rupee value against the dollar is an inflated one and not justified.
He urged the Prime Minister Narendera Modi to consider decentralising the governance. “Modi is centralised and gets to see various files even after the respective Ministers have seen it. He is a success at micro economics but not macroeconomics,” he added.
Swamy was also critical of the failed demonetisation and also of the impact of GST had on the trade and industry. “Demonetisation is a failure as all the notes have come back to the banking system. It only aided in giving new notes in place of the old ones,” he said.
Accusing that accompanying disclosures for GST compliance are only helping the chartered accountants, he said when it was formulated with a slogan `one nation one tax’ what is fun of having eight slabs. Swamy termed the Aadhaar exercise as `crazy’ as the software was outsourced to a company that was blacklisted in the US.