New Delhi, April 13 (IANS) The Congress has put forward another suggestion to the central government saying it should not worry about fiscal deficit and current account deficit as this is “extraordinary” economic situation.
The party has said the government should give more in relief as only less than 1 per cent of the GDP has been given to the Covid relief fund, whereas many countries have given to the tune of 15 per cent.
The Congress said that during 2008 economic crisis, the then UPA government gave 3 per cent of the GDP as stimulus.
The party demanded that there should be more relief in personal income tax.
Former Union Minister Anand Sharma said, “The government should not care for CAD (Current Account Deficit) and inflation as this is extraordinary situation and government should give second financial assistance to these sectors.”
Sharma while addressing a press conference, said the states should get their due of the GST and MNREGA.
“MSME sector which contributes 40 per cent of the export should be given interest free loan to pull them out from distress and the PSU should at least partially pay the debt of the MSME which is at the tune of Rs 10 lakh crore,” said Anand Sharma.
The Congress leader said that the lockdown should be lifted phasewise and some economic activity should start while suggesting that transport of goods by road should start immediately and the SDM should be authority to act as transport aggregator as during harvest season the transportation is the essential part.
He said, “Interest should be waived off on industries. It should not be complied with as the loans should be rescheduled which has completed in March 20 cycle.”
He said the companies could not bear the cost of the labour without any stimulus as International Labour Organization (ILO) has predicted 40 crore workers will be pushed into poverty.
The Congress also slammed the Union Government for not allowing CSR funds to the CM relief fund and termed it discriminatory. The party said the PM-CARES Fund should be merged with PMNRF.
The Congress said that those who are not under social security net and the paper work should be waived off to help people in the distress.
However, the Congress rejected the charge that some states ruled by the BJP are getting more fund than those ruled by opposition parties.