Recently, Nirmala Sitharaman,Union Finance Minister has revealed huge stimulus package of 20 Lakh Crores for the revival of lockdown-hit India Economy that too in a series of 5 phases on 5 days.
Of these,the 1st preference of this govt is MSME sector rather than poor people and migrant labourers. MSME sector definitely need to be given importance but lives of people should be given more importance than livelihood.MSMEs got schemes of about 6 lakh crores. Even the package given to MSME sector is not directly helpful. 90% of the package given for MSMEs are loans which should be taken from banks. And this will definitely help MSMEs but this is only helpful when people have enough money to buy things i.e when there is a demand it is helpful but in these circumstances demand may not boost easily as many people don’t have enough money even to eat properly.
The 2nd importance is given to farmers, street vendors and migrant workers and schemes totalling of 3.1 lakh crores. Of these most of them are loans and 5 kg rice or wheat per migrant worker. How can 5kg of rice or wheat is enough for a month for a person? How govt. will given uncooked rice or wheat for migrant workers who are walking hundreds of miles? Why do govt don’t arrange proper travelling facilities to migrants? Govt can provide travelling facilities to Indians who are in foreign countries but cannot provide travelling facilities who are in India. From this you can understand the Priorities of this govt.
At this crucial stage, govt. should atleast waive off crop loans of below 1 lakh. Or at least give interest free loans to farmers and street vendors.
The other sectors include privisation of mining, space, defense and what not every thing else.
Of these 20 lakh crores, govt need to spend not more 2 lakh crores and all other money are loans from banks.20 lakh crores is just a number and don’t fall into this trap.
The rival country like Pakistan has better view of how the money is distributed to various sectors.We as a developing nation should distribute the money to various sectors in a proper way with proper strategy and plan atleast after discussing with great and popular economists.