As the country is facing the Coronavirus outbreak, and government has imposed a 21-day lockdown to curb it with not much activity on the economic front, senior Congress leader Anand Sharma on Sunday, said that bold measures are required for economic revival as time is running out to prevent a grave and prolonged financial crisis.
In a series of tweets former union minister said, “extraordinary situations call for extraordinary response”, and bold measures and sector-specific stimulus alone can save the economic collapse.
“Prime Minister, the time is running out to prevent a grave and prolonged economic crisis. Bold measures and sector-specific stimulus alone can save the economy from the threatened collapse. The first package was small and far too inadequate for economic revival,” he said on Twitter.
Prime Minister time is running out to prevent a grave and prolonged economic crisis. Bold measures and sector specific stimulus alone can save the economy from threatened collapse. The first package was small and far too inadequate for economic revival.
— Anand Sharma (@AnandSharmaINC) April 5, 2020
The former union minister said the fiscal deficit and inflation cannot be a consideration as these should be kept in abeyance, and India should commit five to six per cent of its GDP to fight against the coronavirus crisis.
“Extraordinary situations call for extraordinary response. Revival of economic activity now is essential as millions have lost wages and Jobs,” he said.
Sharma said a staggered unlocking plan for factories and businesses should be announced and interstate movement of cargo containers be restored, or the supply side issues will blow into a massive crisis.
A staggered unlocking plan for factories and businesses be announced and interstate movement of cargo containers be restored, or supply side issues will blow into a massive crisis and stores will run out of essential items, pushing the economy into a deep shock.
— Anand Sharma (@AnandSharmaINC) April 5, 2020
He said stores will run out of essential items, pushing the economy into a deep shock.
“A robust economy and national resolve will win the war. Hope the PM will consider the constructive suggestions made in the national interest,” the Congress leader said.
A robust economy and national resolve will win the war. Hope the @PMOIndia will consider the constructive suggestions made in national interest.
— Anand Sharma (@AnandSharmaINC) April 5, 2020
Indians stand united in the battle against Coronavirus, the former minister said, adding the spontaneous solidarity in times of the crisis is natural and gives hope and strength.
While taking a dig at PM Modi’s call for lighting lamps at 9 pm tonight while standing in solidarity in the fight against coronavirus, Sharma said, “Dictates and imposition makes it superficial and meaningless. Theatrics not a substitute for concrete action.”
Meanwhile, PM Modi spoke to several political leaders and former heads including Congress president Sonia Gandhi and former PM Manmohan Singh to discuss the COVID-19 situation, the country is currently facing.
India reported 472 fresh cases of Coronavirus in the past 24 hours, taking the total number of cases to 3,374. The total number of fatalities due to COVID-19 in the country have reached 77, according to Health Ministry.