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“PM Gave Us Headline And Blank Page”: P Chidambaram On Economic Package

On Tuesday, PM Modi introduced monetary incentives, including to beforehand introduced packages, for a mixed stimulus of Rs 20 lakh crore, roughly 10 per cent of India’s GDP, to tide over the coronavirus disaster and its influence on the economic system.

New Delhi: Congress chief P Chidambaram at this time derided Prime Minister Narendra Modi’s announcement of a Rs 20 lakh crore stimulus bundle as a “headline and a blank page”, and stated he was trying ahead to Finance Minister Nirmala Sitharaman filling the financial institution web page.

On Tuesday, PM Modi introduced monetary incentives, including to beforehand introduced packages, for a mixed stimulus of Rs 20 lakh crore, roughly 10 per cent of India’s GDP, to tide over the coronavirus disaster and its influence on the economic system.

The bundle consists of Reserve Bank of India (RBI)’s help and a Rs 1.74 lakh crore fund introduced earlier, days after the nation went into lockdown to gradual the unfold of coronavirus.

Mr Chidambaram, who was Finance Minister in Congress governments, defined why he did not react yesterday.

“Yesterday, PM gave us a headline and a blank page. Naturally, my reaction was a blank! Today, we look forward to the FM filling the blank page. We will carefully count every ADDITIONAL rupee that the government will actually infuse into the economy,”

“We will also carefully examine who gets what? And the first thing we will look for is what the poor, hungry and devastated migrant workers can expect after they have walked hundreds of kilometres to their home states,” stated the Congress chief.

“We will also examine what the bottom half of the population (13 crore families) will get in terms of REAL MONEY.”

Nirmala Sitharaman is predicted to deal with a sequence of press conferences from at this time to offer particulars of the bundle.

In tweets, the Finance Minister stated: “This shall not be just a financial package, but a reform stimulus, a mindset overhaul, and a thrust in governance.”

The “Aatma Nirbhar Bharat” mission, she stated, would come with “everyone -a hawker/street vendor, a trader, a MSME, an honest tax paying middle class, a manufacturer etc.”

Industry our bodies like CII and FICCI have praised the transfer, saying it’s going to go a good distance in making India self-reliant – PM repeatedly emphasised on “Aatma-Nirbhar Bharat (self-reliant India)” in his tackle to the nation — and bringing the economic system again on the monitor in view of coronavirus-induced lockdown.

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