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Liquidity crunch to end soon, says Chidambaram
NEW DELHI — Finance Minister P Chidambaram yesterday said the current liquidity tightening is mainly due to advance tax payments and it will ease in few days as departments spend money.
"Liquidity (tightness) is mainly due to advance tax payments, it will be alright in few days as the ministries, departments start spending money," Chidambaram told reporters on the sidelines of the release of a report by UNEFCAP. The government has collected around Rs 40,000 crore in advance tax payments in the last quarter ending March 15.
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