First of all I would like to
inform my readers that I am writing this with a simple common sense of a humble
common man and not as an economist or a financial wizard. With this
introduction I am coming to the point.
My first question is whether anybody
could see anything substantially meant for the common man except a few peanuts
here and there in the Prime Minister’s recently announced and Finance Minister’s
elaborated MEGA RELIEF PACKAGE related to the COVID-19 EPIDEMIC? I can say with
confidence that the major portion of the ‘Rs. 20 lakh crores plus’ relief
package is not related to the incidents associated to the recent COVID-19
epidemic. Let us examine why it is so.
First of all, let us take the breakup,
of the Rs 20 lakh crore plus package
nick named as Atmanirbhar Bharat.
1.
a.
The major part of the relief (Rs.3.5 lakh
crores) is going to the MSME segment only on a flimsy ground of infusing
liquidity since the segment employ a large number of workers. What we have to
keep in mind that, the present epidemic issue is not like a natural calamity
like flooding, cyclone, earthquake, etc.
In a natural calamity, whole community around the area is affected.
However, this epidemic issue is not like that. The main affected persons are
the employees who lost the salary or the employment itself since they could not
attend their work place. What is the loss of the employer? The entire setup
like the building, plant and machinery, raw materials, finished products etc.
are there intact. If at all any minor loss due to wear and tear which can be
written off from the account.
b.
PM and FM should also explain the relation
between the Covid-19 epidemic and the relief (30000 crore) now announced to the
NBFC, HFCs etc. According to my memory, the NBFCs, etc. started bleeding since
October 2018, when a major corporate house along with its associate companies
started defaulting payments.
c.
Again, the PM and the FM should also explain to
the public as to how the present relief of Rs.90,000 crore to power
distribution companies is related to the COVID-19 epidemic.
2. Similar
is the case of Rs.48,100 crores to the sectors of coal, mineral, etc. for their
reforms.
3. The
only relief to the actually affected employees, workers including migrant
workers, farmers, fishermen, etc. is the Rs.3,10,000 crores plus Rs.1,50,000
crores out of the 20 lakh plus crores.
In short, the Hon’ble Prime
Minister and the Hon’ble Finance Minister, very cleverly made a Supplementary
Budget without the approval of the Parliament under the guise of an emergency
relief package to the COVID-19 affected persons, even though the major part of
the relief package do not have any remote connection to it. *www.manjaly.net*
My books available at Amazon:-
1. “A FRAUD IN THE INDIAN CONSTITUTION” part of my
autobiography detailing my crusade against corruption/scams while in service
&
&
2. “LTC RULES MADE EASY” based on CCS Leave Travel Concession Rules.
3. Also variety of subjects are covered in my blogs. For
details go to link: www.manjaly.net
