Demonetisation, GST responsible for stress on MSME, real-estate sector: Chidambaram

New Delhi: Senior Congress party leader and former finance minister P Chidambaram on Thursday said that demonetisation and ‘flawed’ Goods and Service Tax (GST) implemented by the central government, are responsible for the stress on Ministry of Micro, Small and Medium Enterprises (MSME) and real-estate sector.

Referring to a report published in a leading daily, which stated that the Centre might highlight the stress in the real estate sector at the Reserve Bank of India’s (RBI) Central Board meeting, Chidambaram wrote on Twitter, “A news report says ‘After MSME, Government will flag stress in the real-estate sector to RBI’. What caused the stress in the two sectors? Demonetisation and a flawed GST.”

He further said that if by any means the Reserve Bank of India (RBI) would not be able to revive the two sectors then the government would blame the central banking institution for everything.

“Who caused the stress in the two sectors? Everyone knows it was the government and its quack advisers. Now, Government wants RBI to rescue the two sectors and will blame RBI if the two sectors do not revive! The familiar story of the killer, victims and scapegoat!” he Tweeted.

As per the media report, after highlighting the shrinking credit to MSME, the Centre might raise the issue of stress in the real estate sector that threatens job losses at the at the RBI’s Central Board meeting, which is scheduled to be held on December 14.