Sivaganga: Union Finance Minister P Chidambaram on Monday said that the "easy way" for people to understand economics was to study the transaction or usage of money in the country, as had been exemplified by Tamil Nadu, whose economy he averred was in good shape.
"People should understand economics. I will tell you an easy way to understand it. Money transaction/usage should be continuous in a country. It is good in Tamil Nadu and economic condition is also good in the state.
The remarks came after the finance minister had inaugurated two branches of Corporation Bank at Salaigramam and SR Pattinam in Sivaganga district.
Defending the taking of loans by people, Chidambaram said it was not a crime as, "People who have faith in the future get loans".
The minister said that the UPA government had taken various steps to improve the economy.
It was now easier for students and farmers to avail of loans, he said, adding that a total of Rs 54,000 crore had been given to 25 lakh students as loan.