KOLKATA: In view of the "sufferings" of the common people resulting from demonetisation , former Union Finance Minister P. Chidambaram on Saturday suggested that the Centre should cut indirect tax rates to mitigate the hardships people are facing now.Chidambaram said: "The correct tax to cut is the indirect taxes. Any cut in the indirect taxes will benefit millions of people. ""A direct tax cut will only benefit a very small number of people - not more than 25-50 lakhs of people. Indirect tax cut will benefit crores of people in the country and stimulate the economy ," he said. "If I was the Finance Minister today, I would have cut indirect taxes," he said.Investments have been hit due to demonetisation and wide spread accesses of tax enforcement departments, he added.

Source: Economic Times January 28, 2017 09:00 UTC