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Published On: Sun, Apr 26th, 2020

After Sonia ..Now Sharad Pawar wrote to PM Modi

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sharad-pawar-e1552309810703NEW DELHI : Nationalist Congress Party (NCP) chief Sharad Pawar  Sharad Pawar wrote to PM Modi and Union Finance Minister Nirmala Sitharaman pitching a strategy to overcome the COVID-19 crisis faced by Maharashtra.
Mentioning that Mumbai was the hardest-hit city in the novel coronavirus outbreak, he contended that there could be detrimental consequences for the Indian economy if the situation was not swiftly addressed. First, he highlighted that the expected revenue shortfall of Maharashtra was Rs.1,40,000 crores, which would leave a huge hole in the state’s finances.
States will play a major role in the economic recovery of the country after the coronavirus lockdown gets over. He also warned that in the absence of any fiscal help, the states will not be in a position to supplement the central government’s efforts to defeat COVID-19.

He suggested that the borrowing limit of the states under the Fiscal Responsibility and Budget Management Act could be enhanced. Pawar also pointed out that public spending can be reduced. However, he acknowledged that both these options could be counterproductive.
Thereafter, he requested the Centre to extend a two-year moratorium on repayment of the National Small Savings Fund Loan by the state governments. The NCP chief also called upon the Union government to give a suitable financial package to states. According to him, there was no problem in the Centre resorting to deficit financing.
Pawar urged the Narendra Modi government to actively promote e-commerce and home delivery. Additionally, he predicted a bright future for telemedicine.  The NCP supremo observed that it was necessary to re-skill workers for the emerging sectors.

Furthermore, he asked the Centre to proactively engage with the G20 and BRICS to ensure that India becomes a manufacturing hub, capturing the space likely to be ceded by China.
Maharashtra is the worst-hit state in the country with 7,628 coronavirus cases, including 323 deaths.
(With Agency Inputs ).

 

 

 

 

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