The shortest-term economic consequence of the 21-day nationwide lockdown will be on the livelihood of India’s poorest, said Congress leader and former Finance Minister P Chidambaram.
Time Is Running Out
“This is no time for timidity,” he said, urging the government to announce relief measures immediately. In a national address on March 19, Prime Minister Modi announced the setting up of an economic task force to consider relief and stimulus measures for the economy. He has since addressed the nation again but has not made any announcements in this regard. Finance Minister Nirmala Sitharaman has said the government is meeting stakeholders and compiling recommendations.
The government is thinking too much or not thinking enough. It’s being tardy and hesitant. This is no time for timidity, we should be able to announce a Rs 5-6 lakh crore package without taking so much time.P Chidambaram, Former Finance Minister, Indian National Congress Leader
The former finance minister expects that cash transfers to the poorest can be done in 48 hours via Aadhar-linked bank accounts. As for free grain, India’s food stocks are far in excess of the buffer norms and grains can be distributed through ration shops in less than a week, he proposed.
Once cash and grains are in the hands of the poor, they will observe the lockdown with far more discipline.P Chidambaram, Former Finance Minister, Indian National Congress Leader
Besides these short-term measures, the government should focus on strengthening health infrastructure in the medium term. Issues like sanitation, drainage and clean water need to be immediately addressed.
“The coronavirus is a wake-up call for us to address issues that have been neglected for many years,” Chidambaram said.
Watch | P Chidambaram in conversation with Menaka Doshi here
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