Rahul Gandhi on Tuesday got in a conversation with Nobel Laureate Abhijit Banerjee on the impact of COVID-19 on Indian economy, its revival post lockdown and how we can help elevate the problem for the disadvantaged section of the society. In a video released by the Congress leader on his YouTube channel, Dr Abhijit Banerjee advocated for a stimulus package for india. He said we have not dedicated our resources on a large enough financial package. It is important to revive the demand and nothing bad will happen if we provide 60% of the bottom population with more money.
Dr Abhijit Banerjee suggested that to elevate hunger and poverty, the government can give temporary ration cards to people, who can use them for procuring wheat and rice for local ration shops. He said that Aadhar-based claims for PDS could have said a lot of misery to poor but sadly they are not in the system.
Speaking about the lockdown and its economic impact on the people and businesses, Dr Abhijit said we can take cue from US and other countries to come up with a stimulus package and put money in the hands of people. Spending is the best way to revive the economy. It is about reviving demand and assuring people that they will have more money.
India needs a stimulus package; we have not dedicated on large enough financial package yet: Nobel laureate Abhijit Banerjee to Rahul Gandhi
— Press Trust of India (@PTI_News) May 5, 2020
Give temporary ration cards to everybody; use those for transferring money, wheat and rice to them: Banerjee to Rahul
— Press Trust of India (@PTI_News) May 5, 2020
When asked by Rahul Gandhi that whether he believes the sooner the lockdown is lifted, the better, Dr Abhijit Banerjee said that it is true but one also needs to be aware of the disease’s path before deciding to lift up the lockdown. He added that we should be optimistic about the overall economic revival in India post lockdown.
