Is CEA Arvind Subramanian stupid: Chidambaram on PM Modi's "Grand Stupid Thought" barb

Rattled by Prime Minister Narendra Modi's " Grand Stupid Thought" barb on Rahul Gandhi's proposal to slash taxes to 18 per cent, the Congress party's P Chidambaram hit back at the prime minister saying if the chief economic adviser Arvind Subarmanian was stupid for arguing a 15-15.5 per cent revenue neutral rate.

The Prime Minister, on Wednesday, had lashed out at the Congress vice president for proposing to cut all taxes to 18 per cent saying this would bring taxes on cigarettes at the same rate as other essential commodities.

Responding to the prime minister, Congress leader P Chidambaram tweeted,"If it is Grand Stupid Thought to argue for a cap of the tax rate at 18 per cent, then CEA Arvind Subramanian and many other economists are stupid. Is that what PM is saying? Has PM read the CEA's report on Revenue Neutral Rate? Did not CEA recommend an RNR of 15-15.5%?"

He demanded why the normal GST rate couldn't be 15 per cent and the RNR plus rate on luxury goods be 18 per cent.

"Tax and spend is the credo of the BJP government. Example: when crude oil prices fell by 50%, prices of petrol and diesel remained the same," he wrote.