Saturday, October 31, 2020
Home Politics Coronavirus outbreak: Congress demands a fresh Union Budget, claims the pandemic demands increased spending...

Coronavirus outbreak: Congress demands a fresh Union Budget, claims the pandemic demands increased spending by the centre

In his article, the INX Media scam accused P Chidambaram asserted that the country's economic woes preceded the pandemic and blamed Modi government's "misguided policies" as a reason for the economic crisis looming over the country.

India on Monday saw the highest single-day spike in the number coronavirus cases for the fourth consecutive day with 6,977 new cases of COVID-19 confirmed within a span of 24 hours. However, as the pandemic continues to sweep through the country at an alarming rate, upending lives of the citizens, the principal opposition party of the country has come up with a bizarre demand. The Congress party has demanded a fresh Union Budget from the central government.

The demand for a fresh budget comes after the Modi government has already announced a battery of measures to help the economy after the hit has taken during the Coronavirus pandemic.

Sharing an opinion column authored by scam-tainted senior Congress minister P Chidambaram, the official Twitter account of the Congress party tweeted, “We need a new Budget. The assumptions made on February 1 are no longer relevant. The government must present a New Budget on June 1, 2020. The total expenditure must be in the order of Rs 40,00,000 crore: Shri @PChidambaram_IN”

In his article, the INX Media scam accused P Chidambaram asserted that the country’s economic woes preceded the pandemic and blamed Modi government’s “misguided policies” as a reason for the economic crisis looming over the country. Surprisingly, the former finance minister, who is currently out on bail, backed the Modi government in its swift decision to lock down the country in mid-March to fight the spread of the contagion. However, he slammed the centre for the subsequent lockdowns that were enforced by the government without offering any feasible solution that could have been implemented to contain the relentless march of the coronavirus.

As the pandemic continues to crater the Indian economy, the former Union Minister proposed that the only way to counter the economic consequences of the coronavirus outbreak is a fiscal stimulus. Citing the Expenditure Budget for 2020-21 which is pegged at Rs 30,42,230 crore, Chidambaram contended that the said expenditure budget would not suffice in stopping the country’s inevitable plunge towards recession and fiscal infusion would be the only way to salvage the nation from an economic catastrophe.

He argued that the country needs a new budget and the Union Budget declared on February 1, 2020, no longer holds any relevance considering the present scenario. Suggesting increased spending, Chidambaram asserted that the total expenditure must be around Rs 40,00,000 crore. He also suggested that the present sources of revenue may yield only Rs 18, 00,000 crore and therefore the central government must be prepared to borrow to spur the languishing economy. The borrowing will go up from the BE of Rs 7,96,337 crore to Rs 22,00,000 crore, he added.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Who is Farhan Zuberi, now booked for threatening to behead people for insulting Islam: Here is his connection to AMU, AIMIM and anti-CAA violence

Farhan Zuberi is also an office-bearer of Asaduddin Owaisi's AIMIM. he is currently the in-charge of the party's youth wing in Western Uttar Pradesh.

Mend ways, or ‘Ram Naam Satya’ journey will begin: Yogi Adityanath cautions those who change religious identity to trap women, vows law against Love...

Uttar Pradesh Chief Minister Yogi Adityanath on Saturday issued a stern warning to the miscreants indulging in love jihad by concealing their identities and entrapping girls and women in their relationship.

‘Osama bin Laden is less reprehensible than Trump,’ claims ‘rational atheist’ Sam Harris who once described the terrorist as a ‘moral hero in a...

Sam Harris claimed in his podcast Making Sense that Osama bin Laden is a less reprehensible person than Donald Trump.

IFCN certified fact-checking website throws a Hindu girl to wolves in Bangladesh in case where she went missing after alleged ‘insult’ to Prophet Muhammad:...

Despite being well aware that lives of Hindus are threatened in Bangladesh, newschecker.in has given way for Tithy's harassment.

The Second Republic: Why Narendra Modi drawing a comparison between Somnath Temple and Ram Mandir on Rashtriya Ekta Diwas is significant

The birth anniversary of Sardar Vallabhbhai Patel on the 31st of October is commemorated as the Rashtriya Ekta Diwas.

Hindu girl, who was suspended from Bangladesh university for ‘insulting’ Prophet Muhammad, has been missing for 6 days: Here is what happened

Hindu girl Tithy Sarkar goes missing in Bangladesh after allegedly making comments that insulted Prophet Muhammad and Islam

Recently Popular

Tauseef, who was harassing and forcing Nikita to convert to Islam, decided to kill her after watching web series ‘Mirzapur’: Report

During the interrogation, the accused Tauseef confessed to the police officials that he was inspired by the character of 'Munna' in the Mirzapur webseries.

As Pakistan minister admits role in Pulwama attack, Rajdeep Sardesai rushes to his rescue, allows him to ‘clarify’, attack India instead, NDTV follows suit

India Today and NDTV come together to rescue Pakistan minister Fawad Chaudhry after he admitted Terroristan's role in Pulwama attack

Russia: Teenager shot dead after he shouts ‘Allahu Akbar’ and stabs police officer

On Friday, a 16-year-old terrorist was shot dead by police in the Muslim-dominated region of Tatarstan in Russia.

The Print columnist Zainab Sikander Siddiqui wants Charlie Hebdo to have the “guts” to mock the Holocaust if it wants to publish cartoons on...

Zainab Sikander Siddiqui ruled that Charlie Hebdo cartoons mocking other religions are not offensive, only cartoons on Islam are offensive

AMU student leader Farhan Zuberi calls for the beheading of those who insult Islam, justifies his statement on Live TV

Amidst the terror attacks in France and global call of Muslims to boycott French products over the Charlie Hebdo row AMU student Farhan Zuberi justifies beheading of individuals who dares to dishonour Prophet Muhammad

Hindu girl, who was suspended from Bangladesh university for ‘insulting’ Prophet Muhammad, has been missing for 6 days: Here is what happened

Hindu girl Tithy Sarkar goes missing in Bangladesh after allegedly making comments that insulted Prophet Muhammad and Islam
- Advertisement -

Kerala: Minor Dalit girl who self-immolated after raped by a DYFI member succumbs to burn injuries

The 16-year-old Dalit victim girl had set herself on fire by pouring kerosene after DYFI member Manu Manoj had raped her

Radical Muslim social media users trend hashtags in support Raza Academy after the radical organisation received severe backlash for its anti-France campaign

Raza Academy had launched a campaign against France, asking Islamic countries to issue Fatwa against French for 'Islamophobia'

Muslims hold placards with picture of French President with a footprint over his face during anti-France protest near the French consulate in Kolkata

Apart from Kolkata, Muslims in various other cities have joined their religious counterparts worldwide to protest against France

Kamal Nath calls me a dog, yes, I will attack the person who wants to harm the public: Jyotiraditya Scindia opens front against Kamal...

The by-poll is considered as an opportunity for Jyotiraditya Scindia to emerge as a formidable leader in the BJP camp.

Sadiya Anwar Shaikh, who was arrested for links with ISIS, was de-radicalised twice in the past: NIA charge-sheet

Sadiya Anwar Shaikh was de-radicalised twice in the past by intelligence agencies for radical comments on social media

Kashmir is integral to India’s civilisational heritage, given its Hindu and Buddhist history: Excerpt from ‘A New Idea Of India: Individual Rights In A...

A New Idea Of India: Individual Rights In A Civilisational State is written by Harsh Madhusudan and Rajeev Mantri.

The muffled voices of Hyderabad: Unaccounted reports of mass genocide of local Hindus under the Nizam

One of the largest princely states within the Indian union was Hyderabad, a Hindu-majority region ruled by a Muslim Nizam.

“I would have done the same”, says poet Munawwar Rana supporting the beheading of French teacher Samuel Paty by an Islamic terrorist

Munawwar Rana claimed honour killing has been allowed for thousands of years so beheading for blasphemy should be allowed

Who is Farhan Zuberi, now booked for threatening to behead people for insulting Islam: Here is his connection to AMU, AIMIM and anti-CAA violence

Farhan Zuberi is also an office-bearer of Asaduddin Owaisi's AIMIM. he is currently the in-charge of the party's youth wing in Western Uttar Pradesh.

Pakistan: Homes of Hindus burnt down by Islamists in Sindh to force them to convert to Islam

Hindus in Pakistan are known to be one of the worst persecuted minority communities in the world

Connect with us

245,563FansLike
472,289FollowersFollow
19,600SubscribersSubscribe