Five Days of Modinomics drama  

Five days of Modinomics drama is over, final tranche of the 20 lakh crore stimulus package was announced by Finance Minister Nirmala Sitharaman on Sunday

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NH Web Desk

Five days of Modinomics drama is over, final tranche of the 20 lakh crore stimulus package was announced by Finance Minister Nirmala Sitharaman on Sunday

  1. Fifth and final tranche of Atmnirbhar Bharat package announced

The five instalments of measures under the government's economic package to help the economy fight the damage caused by the coronavirus (COVID-19) pandemic seem to be a play of figures.

2.The package seems to be a play of figures

. The package is an amalgamation of old schemes and measures presented in a new way, they are an eyewash for the people who continue to suffer due to lockdown

3.Old schemes presented in a new format, package is just an eyewash

It brings no relief to the economy, which has been battered by the ongoing lockdown to curb the spread of the deadly COVID-19 disease.

4. Economy is shambles, stimulus package brings no hope

Seven steps announced in the  last set of measures under "Atma Nirbhar Bharat" package comprised of

1) MNREGA

2) Health - rural and urban, including

education

3) Businesses and coronavirus

4) Decriminalization of Companies Act

5) Ease Of Doing Business

6) Public Sector Enterprises

7) State governments and related resources

Soon after announcing lockdown, government launched "Garib Kalyan" package to address demand for food grain for next 3 months but the harsh reality is that still lakhs of people continue to suffer without food ,water and shelter

5. 'Garib Kalyan' package is nowhere on the ground, lakhs of people are in hunger and distress

The package claims that 12 lakh EPFO members have benefited from non-refundable advance

As of May 16, 8.91 crore farmers have received benefit of PM KISAN scheme

6.81 crore free cooking gas cylinders given under PM Ujjwala scheme

In last two months

6. All these figures face a harsh reality check,with not much of the promises on ground

Sitharaman announced provisions for online education, emphasis on schools  using technology was made but the fact remains that more than 70 per cent of students in India have no access to Internet and technology

6. Provisions for online education but rural India has no access to technology

In the previous parts of the stimulus package, loans to MSMEs have been announced but former finance minister P.Chidambaram exposed the lie of the government as the government owes more than it offered to MSMEs

7. Government owes more than it announced for MSMEs

MGREGA: Government announced the additiona allocation of Rs 40,000 crore for MGNREGS, over and above Budget Estimate of Rs 60,000 crore,but the ground reality is different

8. Millions of unemployed  are left unattended by the government

Government has promised to increase public expenditure on health, public health labs to be set up but we still lack testing facilities and kits to control the pandemic that has already affected around 90,000 people

9.FM promised a better healthcare system but India faces shortage of testing kits

Government announced that  New Insolvency and Bankruptcy Code (IBC) proceedings have been suspended for one year; no fresh action for a year due to coronavirus

10 People's savings are already unsfe in defaulter banks

All the measures announced by the FM is five days of stimulus package are more of projection of Modinomics while it lends no immediate help for people suffering due to Covid-19

11. FM announcements are just Modinomics for self projection

Congress leader Rahul Gandhi had asked the PM to reconsider the stimulus package as it does not help the migrants,farmers immediately

12. Rahul Gandhi has asked PM to reconsider the stimulus package

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