Former Union minister terms Centre’s stimulus package as merely ‘public relation exercise’

Pawan Kumar Bansal in a video press conference said the package is only a mirage to mislead people

Former Union minister Pawan Kumar Bansal on Sunday termed the economic package announced under ‘Atmanirbhar Bharat Abhiyan (Self-reliant India Mission)’ scheme as merely a ‘public relation exercise’.

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Bansal, in a video press conference, said, “It is wrong to call the package a stimulus as it is only a mirage to mislead people.”

“After remaining impassive to the sufferings of people for an inordinately long time and failing to alleviate distress of traders, industry workers, farmers, salaried-class employees and labourers, Prime Minister Narendra Modi on May 12 said that the government will provide a stimulus of ₹ 20 lakh crore to give a boost of self reliance to the economy, which had come to a complete halt due to the covid-19 pandemic. The hope generated to overcome despondency is however short-lived,” said Bansal.

There is no immediate relief in the form cash assistance or exemptions to anyone, but only an intent to undertake some programmes in the future, he added.

The former Union minister said that scheme without compensatory interest benefit or exemption to trade and industry and cash assistance to the economically poor people cannot be called a stimulus.

“In the last four days, it seems that the announcements made by the finance minister lack sensitivity. Instead, it appears that the government is mocking at all sections of society,” added Bansal.

Criticising the government for allowing foreign direct investment (FDI) in defence production, Bansal said, “In the name of stimulus and with the avowed objective of self-reliance, permitting more FDI in defence production and opening space exploration to private sector is tantamount to democracy giving way to oligarchy and rendering vulnerable critical security concerns of the country.”

Advocating direct transfer of money to poor, Bansal said, “The government will have to spare ₹ 65,000 crore for it, which it hasn’t done as yet. At most, the so-called stimulus is of ₹ 3 lakh crore against the touted ₹ 20 lakh crore.”

The National Food Security Act was enacted in 2013 to ensure ration to every Indian. However, as per the finance minister, 8 crore Indians including internal migrants are not covered under this system and are deprived of ration, he said, adding, “For the last two months, these people have not been given any ration.”

He suggested that the government should borrow or even print more money, if it is required to help people.