Chidambaram also said the country having a “lucky” Finance Minister may have been a factor in the tax to GDP ratio rising to 12.5 per cent at the end of 2007-08 after the UPA government inherited a 9.2 per cent ratio in 2003-04.
“High growth rates have helped. Changes in attitude have also helped. Above all, information systems and technology have helped most. And, if I may add in a lighter vein, having a lucky Finance Minister may have also helped!,” he said. As he rose to present the 2008-09 Budget, Chidambaram said he had the honour of presenting all five budgets on behalf of a government— “a rare honour that he had the privilege to share with only one of my distinguished predecessors, Dr Manmohan Singh.”
PM earned this distinction when he was the Finance Minister.