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Q Chidambaram explained why he did not react yesterday.
New Delhi:
Congress leader P Chidambaram today mocked Prime Minister Narendra Modi’s announcement of a stimulus package of Rs 20 lakh crore as a “headline and a blank page,” and said he expected Finance Minister Nirmala. Sitharaman, fill out the bank page.
On Tuesday Prime Minister Modi announced financial incentives, in addition to previously announced packages, for a combined stimulus of Rs 20 lakh crore, approximately 10 percent of India’s GDP, to overcome the coronavirus crisis and its impact In the economy.
The package includes assistance from the Reserve Bank of India (RBI) and a previously announced Rs 1.74 lakh crore fund, days after the country closed to curb the spread of the coronavirus.
Chidambaram, who was Minister of Finance in the governments of Congress, explained why he did not react yesterday.
“Yesterday, PM gave us a headline and a blank page. Naturally, my reaction was blank! Today, we expect the FM to fill in the blank page. We will carefully count every ADDITIONAL rupee that the government will really infuse into the economy.” he said in tweets.
Yesterday, PM gave us a headline and a blank page. Naturally, my reaction was a target!
Today, we expect the FM to fill in the blank page. We will carefully count each ADDITIONAL rupee that the government will actually infuse into the economy.
– P. Chidambaram (@PChidambaram_IN) May 13, 2020
“We will also carefully examine who receives what. And the first thing we will look for is what poor, hungry and devastated migrant workers can expect after having walked hundreds of kilometers to their home states,” the congressional leader said.
“We will also examine what the bottom half of the population (13 crore families) will get in terms of REAL MONEY.”
We will also examine what the bottom half of the population (13 crore families) will get in terms of REAL MONEY.
– P. Chidambaram (@PChidambaram_IN) May 13, 2020
Nirmala Sitharaman is expected to address a series of press conferences today to give details of the package.
In tweets, the Finance Minister said: “This will not be just a financial package, but an incentive for reform, a mental overhaul and a boost in governance.”
The “Aatma Nirbhar Bharat” mission, he said, would include “everyone: a street vendor / street vendor, a merchant, a MSME, an honest middle class who pays taxes, a manufacturer, etc.”
Industry bodies like the IIC and FICCI have praised the move, saying it will go a long way in making India self-sufficient – PM repeatedly highlighted in “Aatma-Nirbhar Bharat (Self-Sufficient India)” in his speech to the nation – and putting the economy back on track in light of the coronavirus-induced blockade.
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