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A plan to revive the economy

Byindianadmin

Apr 17, 2020 #Economy, #Revive
A plan to revive the economy
Lockdown displaces lakhs of migrants

Need, supply difficulties

Initially, it is very important to diagnose the scale of the recession properly. Prachi has actually lost her job since her employer has been forced to stop business activity. It is important for the federal government to feed Prachi and assist her company to reboot activities so that he can re-employ her quickly. The economic crisis needs a need side and a supply side response. It is ethically essential that we immediately attend to the sufferings of the bad and vulnerable by offering cash along with food. The bottom half of all homes (13 crore out of 26 crore families) should be offered 5,000 per household in their savings account within a week. The list of families and the bank details (mostly Aadhaar-seeded) are available in the government’s different plans such as PMJAY and MGNREGA. Besides, the States have their ‘below hardship line’ lists. This will cost an optimum of65,000 crore. Even more, depending upon the need, for the month of May, these households can be provided 3,000 each. This will cost an extra39,000 crore.

More than money, scholars like Jean Dreze have actually observed that it is food that individuals require most urgently. India has far in excess of the buffer stock requirement. The Central federal government has actually already revealed distribution of complimentary food, however reports recommend that there is either absence of food supplies at the regional ration store or identity requirements of provision cards are proving to be a roadblock. The government needs to universalise food

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