If Necessary, Government Must Print Money To Support Expenditure: P Chidambaram

Congress leader P Chidambaram said, "If necessary, the Government must print money. We have space and sovereign right to print money and if at any point the Government feels that too much is being printed, it can always stop printing it."

Former Union Minister and Congress leader P Chidambaram on Tuesday said that if necessary, the government must print money to support its expenditure. The Congress leader, while addressing a press conference said, "If necessary, the Government must print money. We have space and sovereign right to print money and if at any point the Government feels that too much is being printed, it can always stop printing it." He said, "at the moment, I think, printing money is clearly advised. I am very happy that someone, so distinguished as Dr. Abhijit Banerjee has supported the idea. There are many other economists, who have recommended that the Government must print money to support its expenditure." When asked about the impact of the fiscal deficit on announcements made in the budget about the healthcare sector, like vaccination and other programmes, the former Union Minister said, "This is not the time to worry about the fiscal deficit. For 2021-2022, they have projected a fiscal deficit of about 5.5. What if it becomes 6.5, so what? According to me, it doesn't make any difference at all, it should not make a difference, and it should not stop us."