Chidambaram also slammed senior BJP leader Arun Jaitley for defending Modi and his economic vision. The latest war of words between Chidambaram and Jaitley was triggered by the finance minister's comments in an interview that Modi's views on economics could fit on the back of a postage stamp.
Jaitley had hit back at Chidambaram saying the finance minister's management of the economy had brought growth below 5%.
"I expected Shri Arun Jaitley to rush to the defence of Shri Narendra Modi, and he has not disappointed me. He has responded to my lighter-vein comment on 'back of a postage stamp' and I enjoy such exchanges," Chidambaram said in a statement.
"However, he has carefully avoided the other questions that I raised. Why has Shri Modi said nothing about the fiscal deficit, nothing about the CAD, and nothing about monetary policy," Chidambaram asked.
Chidambaram and BJP leaders have sparred over various issues in the past and both sides have attacked each other.
The finance minister posed several questions at the BJP ranging from the party's opposition to the Goods & Services Tax and allowing foreign retailers in the multi-brand retail sector.
"I have further questions: Why do Madhya Pradesh and Gujarat oppose GST and prevent a consensus? Why did Shri Modi write to the prime minister opposing the Food Security Act? If Indian-owned multi-brand retail will not destroy jobs, how will FDI in multi-brand retail destroy jobs," Chidambaram asked.
Slowing economic growth, stubborn inflation, high interest rates and bouts of policy paralysis have attracted sharp criticism over the UPA's handling of the economy. The BJP has blamed the government's economic mismanagement for growth slowing to a decade low of 5% in 2012-13.
Jaitley had said Chidambaram's comment that what Modi knew about the economy could fit on the back of a postage stamp came from an eminent economist who presided over growth slowing to its current state of stagnation.
The BJP leader had said neither P V Narasimha Rao nor A B Vajpayee were economists, but they provided the political leadership, building consensus and confronting critics where this was not possible. They left special assignments to experts.
"It's a different matter that the Congress party chooses to make them finance ministers," Jaitley said, taking a dig at Chidambaram. "Mr Chidambaram believes that he is a principal repository of all economic wisdom. It is a different matter that he, along with other members of the UPA's dream team to manage the economy, have presented to the country not a dream but a nightmare."
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