Opposition leaders heavily criticised the measures introduced under the Rs 20 lakh crore economic package announced by the prime minister yesterday. Finance minister Nirmala Sitharaman detailed the first phase of the package today.
Nothing for migrants: Chidmabaram
Senior Congress leader and former finance minister P Chidambaram said that the Centre's Covid-19 economic stimulus package had nothing for lakhs of poor and hungry migrant workers who have been walking to their homes.
Addressing a press conference via video, Chidambaram said the Centre has announced Rs 3 lakh crore of collateral-free loans for small businesses, but where is the remaining Rs 16.4 lakh crore?
'Except for the modest MSME package, we are disappointed with today's announcements,' he said.
'Where is the rest of the Rs 16.4 lakh crore? This government is a prisoner of its own ignorance and fears. The government must spend more, but it is not willing to do so. The government must borrow more, but it is not willing to do so. The government must allow states to borrow more and spend more, but it is not willing to do so,' he said.
Chidambaram said the first thing the government needs to do is to put money in the hands of the 13-crore families in the bottom of the population that will cost the government only Rs 65,000 crore if Rs 5,000 is given to each family.
He also called upon the government to address the issue sectorally and provide fiscal support to each sector.
Nothing for states: Mamata Banerjee
West Bengal Chief Minister Mamata Banerjee claimed that the special economic package announced by it has nothing of help to the states and is 'a big zero'.
Banerjee alleged the central government was 'misleading people' during the Covid-19 crisis.
'The special economic package announced by the Union government is nothing but a big zero. It is an eyewash to fool the people. There is nothing for the unorganised sector, public spending and employment generation,' she said while addressing a press conference here.
'Yesterday, when the PM announced a Rs 20 lakh crore package, we were hopeful that the interest of the states would be looked into, the FRBM limit would be increased. But today, after the Union finance minister made the announcements, it was found that everything that was said yesterday was a bluff,' she said.
Hitting out at the Centre for allegedly not offering anything to the financially starved states, The Trinamool Congress supremo claimed it was trying to 'bulldoze' cooperative federalism.
Modi, Shah and Yogi sing praises of the measures
Uttar Pradesh Chief Minister Yogi Adityanath auded the Centre for Rs 20 lakh crore Covid-19 economic stimulus package, saying it would benefit over three crore people in the state's Micro, Small and Medium Enterprises (MSME) sector.
He also said that keeping in mind the MSME sector, the state is going to organise a loan fair from Thursday.
Prime Minister Narendra Modi said the announcements made by the government on Wednesday to boost the economy will go a long way in addressing issues faced by businesses, especially MSMEs.
'The steps announced will boost liquidity, empower the entrepreneurs and strengthen their competitive spirit,' the prime minister wrote on Twitter.
Seeking to boost the COVID-hit economy, Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3-lakh crore collateral-free automatic loan for businesses, including MSMEs.
Union Home Minister Amit Shah said the Narendra Modi government is committed to reviving the economy, help small businesses and boost employment in the challenging time of the coronavirus pandemic.
In a series of tweets, Shah said the central government is doing everything possible to help those in the business sector as they may face financial stress while resuming their work following the lockdown to combat the coronavirus pandemic.
