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Chidambaram's suggestion to the Center to stimulate demand and raise funds..

06/09/2020

New Delhi,
September 06 (HS) : In the midst of the Corona pandemic and the declining
economy, former Finance Minister and senior Congress leader P Chidambaram has
given some suggestions to the central government to improve the situation. He
said that the economy can be revived if the government encourages demand and
consumption. For this it is necessary that the government's help reaches the
people.

In such a situation, the central government
should not only depend on credit and investment to help the people, but should
also look for other options.

P
Chidambaram tweeted on Sunday that the government's efforts to increase demand
will bring stability in the economy. For this, it is necessary that the
government transfers cash to the poorest 50 percent of the families. Food
should be provided for all the families, they should be given food grains as
per the need. Increase in expenditure on infrastructure projects. Food grain
stock should be used to pay wages and to undertake large scale public works.

They should be capitalised again to lend to
banks. Also, the Centre should pay the dues of GST compensation to the states. He
said that moving forward positively on these points will encourage consumption
and the market will revive. However, he also said that everyone will need
money, so the government should not hesitate to borrow.

Not only
this, the Congress leader has also given some measures to raise funds keeping
in mind the needs of the government for the financial help of the people. He
said that the government should borrow more this year, while relaxing the
Fiscal Responsibility and Budget Management (FRBM) standards.

Also,
provision should be made to accelerate disinvestment. At the same time, the
government should use the proposal of US $ 6.5 billion found by IMF, WB and ADB
and so on.

He
definitely said that just borrowing and investing from the government will not
work because it is not the last option. Other measures should also be taken for
this.

Hindusthan Samachar


 
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