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LATEST NEWS UPDATES | The fiscal hoax of garib kalyan

The fiscal hoax of garib kalyan

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published Published on Mar 28, 2020   modified Modified on Mar 28, 2020

-The Telegraph

The finance minister's relief package, like some other interventions, is a case of smoke and mirrors

India has jumped in with a Rs 1.7 trillion package of fiscal measure to provide relief to the poor and other vulnerable sections of its population stricken by the impact of the coronavirus crisis. The finance minister, Nirmala Sitharaman, unveiled the package with some flourish. But when experts pored over the measures, it became apparent that the Narendra Modi government is, once again, playing its all-too-familiar game of smoke and mirrors. The fiscal rescue plan has deftly repackaged elements of existing welfare measures which is why there is no apparent need to seek Parliament’s approval for an extra-budgetary appropriation or even raise the Centre’s gross market borrowings capped at Rs 7.8 trillion in the recent budget.

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The Telegraph, 28 March, 2020, https://www.telegraphindia.com/opinion/coronavirus-the-fiscal-hoax-of-garib-kalyan-yojana-announced-by-nirmala-sitharaman/cid/1759743?ref=editorials_opinion-page&fbclid=IwAR1MwRy0hHFn_rR5Gf2YfyHJyI2Hk4T9t1x-9UXjWPjA-T-CpApww


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