After announcement by the honourable Prime Minister, the Finance Minister took four days to distribute mammoth 20 lakh crore rupees to the countrymen. What the countrymen would get out of it? This is the analysis made by the Ganatantrik Adhikar Surakha Sangathan, Odisha. You may agree or not. We would be happy to answer if you ask.
Let us go through the package declared in various phases. We should not forget that loans or credits, part of this package, will have a long-term effect. A loan can’t be counted as package for welfare of weaker section of our society. The honourable Prime Minister during time of announcement of 20 lakh crore package had said that it includes previously declared package and RBI package also.
1) On 27th March, the first round of package of Rs. 1.7 lakh crore was announced. Out of which Rs. 92000 crore was of ongoing projects. Here, free food from huge FCI stock is only contribution.
2) On 17th April, the RBI had declared relief package of Rs 7.8 lakh crore which is a liquidity to all banks and financial institutes including NABAD, SIDBI and NHB. All these will not go neither in hand of common people nor in industry or business houses immediately though all of them need support badly. Of course, in the long-run it would ease the financial pressure.
3) The Finance Minister has announced the rest of amount of Rs. 10.5 lakh crore in five stages. Of these, except Rs 40,000 crore to MGNREGA (4.2%), the rest of these so called stimulus packages are provision for feature loans/credits from the banks or financial organizations.
The agriculture sector is already in ICU. Without providing any proper treatment to the agri-sector, the Union government is making all arrangements so that the patient can reach home without any problem.
All these break-up of the package says us that the Government is nothing but a ‘money lender’ only. The Finance Minister has turned as a Non-banking Finance Minister. It may be reminded that a loan or credit do not mean sacrifice of the government from its exchequer as a helping hand to the people in distress.
The rest of the announcement are simply reform programmes. It is also interesting that the FM has taken the COVID 19 situation as opportunity to push through the so-called reform programmes and privatisation of PSUs.
Finally, the contribution of government to its countrymen during this time of Pandemic is negligible. They have given the mantra of Aatmanirbhara, means you should try to stand-up yourself. The government will make all arrangement to cheer you. It is becoming a cheerleader.
Update from Ganatantrik Adhikar Surakha Sangathan, Odisha
Write to: The President, GASS, Odisha, Email: gassbhubaneswara@gmail.com
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