Report By Annie Mathew | Bengaluru | Last Updated at April 27 2020
Former Karnataka chief minister HD kumaraswamy has called for citizen-centric measures and stressed the need to lower the cost of living, as he cautioned the state and central governments about the impact of covid-19 lockdown on economy and people. Calling for measures like partial waivers of EMIs, rents, school, fees, cut in petrol and diesel prices.
“According to RBI and international economic assessment agencies, the GDP growth rate of the country is expected to fall to historic low. Such a dreadful situation calls for citizen centric count like full of EMIs, rents, school fees and other impose,”kumaraswamy tweeted.
Stating that the economy won’t bounce back within a very short period, he said, it is important to lower the cost of living as spending power of the consumer has spend.
“The government must cut the petrol and diesel cost. The loss of income may be offset partially by imposing covid-19 cess on the ultra rich,” he added. The government must provide instant relief to farmers, construction workers, cab and auto drivers. Garment workers, etc, he added.
India’s GDP is likely to range between a decline of 0.9per cent and a growth of 1.5 per cent in the current financial year, with the economy undergoing “unstable” phase caused by the covid-19 persuade lockdown, according to recent report by CII.