Chidambaram slams state of economy

Incarcerated Congress leader P Chidambaram on Monday referred to an editorial in the Economist magazine that said the Indian economy is "incompetently managed and doing badly". The former finance minister, who is in jail for alleged corruption in the INX Media case, also said in a tweet that the magazine is read by the Fortune 500 companies that will invest in India.

"Read the Economist magazine of October 26. It is read by the Fortune 500 companies that must invest in India. "The Editorial says 'India's economy is incompetently managed and doing badly'," he said on Twitter.

The former finance minister had asked his family to tweet on his behalf. "'Doing badly' is what Nobel Prize winner Dr Abhijit Bannerjee said last week. And he was severely criticized by our Commerce and Industry Minister Mr Piyush Goyal," he said in another tweet.