New Delhi: Congress leader Rahul Gandhi on Monday slammed the center after announcing the Covid-19 financial package, calling it ‘trick’.
In a tweet, he said that the package was announced on Monday by Minister of Finance Nirmala Sitharaman, could not be used by the family to be spent on food, medicines, or education of their children.
“There are no families who can spend the ‘economic package’ fm at living school fees – food-medicine-food.
This is not a package, it’s another trick!” He tweeted.
Congress leader and former Finance Minister P Chidambaram also regarding the central package, saying that the only answer to the ongoing crisis is to put money in the hands of people, especially the poor and lower middle class.
“‘Some basic truths: Credit guarantees are not credit.
Credit is more debt.
There is no banker who will lend a business ridden by debt.
The business that is burdened or charged debt does not want more credit, they need non-credit capital.
More supply does not mean more Request (consumption).
Conversely, more requests (consumption) will trigger more supply, “he tweeted.
He added, “demand (consumption) will not grow in the economy where the work has disappeared and the income / wages have been reduced.
The answer to this crisis is to put money in the hands of people, especially the middle class that is poor and lower.” Sitharaman Has announced the RS 1.1 Lakh Crore loan loan guarantee scheme for the economic sectors struggling to recover from the impact of the destructive Covid-19 wave.
The Minister of Finance has announced a credit assurance scheme to facilitate new loans among the smallest borrowers.
“Under the credit guarantee scheme, we aim to reach 25 lakh people who are truly small borrowers.
Loans will be given to the smallest borrower by microfinance institutions.
The number of Rs 1.25 lakhs is maximum to be loaned,” he said.
With the aim of providing further economic assistance to micro, small and medium enterprises (MSMEs) in the middle of the ongoing Covid-19 pandemic, the center also expanded financial support provided under the Emergency Credit Line Guarantee Scheme (ECLGS) of Rs 1, 5 lakh crore.
To revive the tourism sector, Sitharaman announced a free tourist visa to the first five lakh tourists and said that financial support will be given to more than 11,000 registered tour guides and tourist stakeholders.
Covid Covid Help Package Rahul Gandhi Slams, call it ‘hoax’
