Chidambaram says FM’s measures had nothing for hungry migrant workers; PM says will ‘boost liquidity’
Congress leader Chidambaram said the first trance of measures did not take into consideration the plight of migrant labourers and that it was "a cruel blow dealt to those who toil every day".
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Congress leader P Chidambaram said the economic package didn’t have anything on migrant workers
Expressing disappointment with the first tranche of Rs 20-lakh crore stimulus package announced by the government to cushion the blows of Covid-19 on the economy, former Finance Minister P Chidambaram Wednesday said it did not take into consideration the plight of migrant labourers and that it was “a cruel blow dealt to those who toil every day”.
On the other hand, Prime Minister Narendra Modi said the announcements made by Finance Minister Nirmala Sitharaman will go a long way in “addressing issues faced by businesses, especially MSMEs”. He said that the steps announced will boost liquidity, empower the entrepreneurs and strengthen their competitive spirit.
West Bengal Chief Minister Mamata Banerjee, meanwhile, called the economic package a “big zero” that had “nothing for states”.
“Centre’s package has nothing for the unorganised sector, public spending, employment generation,” the chief minister said, accusing the government of “trying to bulldoze federalism, and mislead people with the economic package.”
In his remarks post the press conference of the finance minister, Chidambaram said there was nothing in it for the “lakhs of poor, hungry and devastated migrant workers who have walked — and many thousands are still walking — back to their home states. This is a cruel blow dealt to those who toil every day.”
Questioning why there was nothing by way of “cash transfer to the bottom half of the population (13 crore families) who have been pushed into destitution,” the Congress leader also dismissed liquidity related measures, saying they “do not amount to fiscal measures of support.”
“Except for the modest MSME package, we are disappointed with today’s announcements,” he said.
Here’s everything Nirmala Sitharaman announced as booster measures
Announcing the package for Micro, Small and Medium Enterprises (MSMEs), Sitharaman had said Rs 3 lakh crores collateral-free automatic loans will be provided to MSMEs. The minister said the measure will enable 45 lakh MSME units to resume business activity and also safeguard jobs.
Besides, the Centre has also extended the deadline for completion of real-estate projects by up to six months, treating the coronavirus outbreak as an event of ‘force majeure’ under the realty law RERA, and extended the deadline for filing of all income tax returns for 2019-20 fiscal till November 30, 2020. Also, a Rs 30,000 crore special liquidity scheme has been announced for non-banking financial institutions to provide credit support to the sector, and an emergency liquidity infusion of Rs 90,000 crore in discoms.
PM Modi, during his address to the nation, had said the economic package that is worth 10 per cent of GDP would play an instrumental role in the ‘Atmanirbhar Bharat Abhiyan’ (Self-reliant India campaign) and position the country for the post Covid-19 world. He had said that announcements made by the government over Covid earlier, decision of RBI, and the now announced package amounts to Rs 20 lakh crore, which would help every section including workers, farmers, middle class and industrial units.
PostedOn: 13 May 2020 Total Views: 118