Former finance minister P Chidambaram on Thursday targeted the Narendra Modi-led BJP for the political developments in Karnataka and Goa, saying they had “gravely damaged” democracy and would have a “damaging impact” on the economy.

Participating in the budget discussion in the Rajya Sabha, the senior Congress MP said he was “very unhappy” that democracy was “suffering a blow every day”.

His comments came at the beginning of his 33-minute speech as he referred to the spate of resignations of MLAs from the JD(S)-Congress coalition in Karnataka and 10 out of 15 Congress MLAs in Goa joining the
BJP.

“What you have seen in Karnataka, what you have seen in Goa may appear to be political one-upmanship, but I think it has a very damaging affect on the economy, foreign investors, rating agencies. In the last two days, they have gravely damaged democracy. More such incidents will completely damage the democratic framework of this country,” he said.

He said these moves may help the BJP in “advancing its political goals,” but at the “same time they are doing a great disservice” to the economic goals of this country.

Chidambaram said the rating agencies and international organisations do not read Indian newspapers or do not watch “tamed” Indian TV channels.

“What they hear, what they read about will be political instability and political one-upmanship. I only wish the ruling party takes note of this,” he said.

He said he condemnws what is happening in Karnataka and Goa “not because it is a political event alone, but because it has a very damaging impact” on the
economy.