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Rahul Gandhi offers Centre 8 point remedy for Covid-battered economy
Rahul Gandhi has given several suggestions on handling of economic crisis triggered by coronavirus outbreak.
Congress leader Rahul Gandhi has recommended implementation of an eight-point formula to revive the Indian economy and reduce the financial stress caused by the coronavirus outbreak in the country.
The Congress on Friday released the recommendations in a statement attributed to the former party president and Wayanad MP a few hours after he expressed his opinions on the government’s Covid-19 containment efforts in a digitised live chat session.
Gandhi’s statement questions why the Centre had not announced a second fiscal relief package for individuals and businesses like other prominent economies in the west.
“In India, the government has been dragging its feet on announcing an economic package targeting vulnerable groups like farmers, migrant labourers and daily wage earners as well as industry clusters like travel and tourism, automobiles, retail, etc. that have been severely damaged,” the statement says.
The longer the government “delays” announcing this package the more “the pain” will grow, it adds.
The statement then goes on to offer the contours of an economic stimulus package that has emerged during an internal consultative process in the Congress party.
Here is a summation of the main recommendations listed in Gandhi’s statement.
1. Income Support- Extend income support to at least 13 crore poorest households. Transfer Rs 7,500 preferably to each household. Even if only Rs 5,000 is transferred to each of the 13 crore poorest households, then it will only amount to Rs 65,000 crore, which we can and must afford.
2. MGNREGA- 100 days of guaranteed employment under the scheme should be doubled to 200 days. Close to 28-30% of our population now resides in urban areas where a programme like MGNREGA should be introduced.
3. Food Security- Ensure food security for even 11 crore people outside the PDS. Please ensure delivery of 10 kg food grains (rice or wheat) 1 kg pulses and 1 kg sugar to every individual for a period of next six months.
4. Agriculture and Farmers – Empower and support the ‘Anndata’ farmer by transferring Rs 10,000 as urgent economic support to each of the 8.22 crore PM KISAN Yojana accounts. Purchase every ounce of food grains at MSP and remove GST on fertilizers, pesticides and agriculture equipment immediately.
5. MSMEs- 6.25 crore MSMEs generate over 11 crore jobs. Give 1 lakh crore ‘Wage Protection Scheme’ and 1 lakh crore ‘Credit Guarantee Scheme’ to MSMEs. Give six months interest subsidy as equal to six months of interest on loan taken by SMEs.
6. Large Industries – Similar credit guarantee and interest subsidy facilities must be extended to big businesses as well. This will ensure that the value chain survives and no layoffs happen.
7. Shopkeepers- Except for hotspots, retail supply chains should be restored to bring relief to around 7 crore shopkeepers.
8. Migrant labour – I am deeply disturbed and saddened by trains being cancelled and migrants being forced to stay back in some states. They are not bonded labour and should be allowed to return home according to their own free will.
