Congress leader Rahul Gandhi has criticised the new relief package by the Centre for the Covid hit economy. Calling it ‘another sham’, Gandhi said that no family can spend the Finance Minister’s economic package on their living-food-medicine or child’s school fees.
Nirmala Sitharaman on Monday announced the new stimulus measured which are in response to the 2nd wave of the pandemic.
The government’s 6.29 lakh crore package includes 1.1 lakh cr loan guarantee for Covid affected sectors, credit extension and a boost to micro finance institutes lending capacity.
Former Finance Minister P Chidambaram also critiqued the new measures. Taking to twitter, the senior Congress leader said that ‘credit is more debt and no banker will lend to a debt-ridden business.’ He argued that the debt-burdened or cash-starved business do not need more credit, they need non-credit capital.
He added that the answer to this pandemic induced economic crisis is to put money in the hands of the people, especially the poor and lower middle class.