The Finance Minister P. Chidambaram had a successful Google Hangout session on late Monday evening answering all the queries on Budget by some of the industrialists, students and homemakers.
Replying to questions on increased tax on housing, mobile phones and eating out, by homemaker Kala Kudva, Chidambaram remained affirmative and said that the middle class families have to bear the burden as they are earning incomes.
"I know the middle class have a reason to complain, but those who are earning money, have to pay some tax as I can't tax the poor people," he replied adding the cost are rising, but incomes of these people are also rising.
"The incomes are rising in metro cities and it is expected incomes will rise by 10-15 per cent this year in corporates. We are not a country of only middle class, but of poor too, so I have to take care of them," he said.
>Google+ Hangout with Chidambaram (recording)
Reechal Vardhan a student of IMB-Bangalore asked how the Rs 1,000-crore fund and all women bank will be implemented. The FM replied by saying that the ideas are in place, “but we have to discuss with the Prime Minister and his advisors. We need to be flashed out. We are also working with other ministries, departments and NGOs. We are looking at investments to enhance security and empowerment of women in public places. The women banks will start with an headquarter with six branches in six regions of India. We should start the preparatory work in October and by November it should start," he said.
On the industrialists’ questions on the economic conditions of the country and how to improve it, he said policies such as FDI and FII have to come in place first. "We can do that by policies and communicating with investors. I expect the IRDA, SEBI and RBI to follow up and I will also visit Tokyo, New York, Boston and Middle East countries to talk to them," he added.
The Minister’s attempt to connect with the masses using social media via the Google Hangout saw mixed reactions from the netizens.
“Watched the last 15 minutes. 'Twas cool. Trying to recall how we lived before we had the Internet,” tweeted author and film critique Anna MM Vetticad.
Apart from fielding questions from the public, Chidambaram also discussed the budget and the state of the economy with a panel that included Mahindra & Mahindra Chairman and Managing Director Anand Mahindra, JP Morgan's Senior Asia Economist and India Chief Economist Jahangir Aziz and Google Inc Senior Vice President Amit Singhal.
“No jingoism, no Bollywood actors, no staged managed drama...hard questions, to the point answers,” tweeted an Indian working in Australia.
The idea of talking to people on the Internet seemed to have given Chidambaram also new ideas. “We could have a virtual political party in India with virtual membership through internet,” he said.
ronendrasingh.s@thehindu.co.in