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20 lakh crores package: Freebies or growth oriented?

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Author, Writer, Educationist. Counsellor, AOL faculty, Electrical Engineer

The plight of Corona Virus on every individual is worrisome. Majority of businesses are closed owing to lockdown, Services have reduced. We are witnessing the plight of migrant labors. So, everybody was expecting to receive something from Modi Government. Keeping in view of the sufferings of different sections of society and to uplift economy, PM Modi announced stimulus package worth 20 lakh crore, subsequently, FM Nirmala Sitharaman explained how it will be allocated for different sectors of business and society in next 5 days.

If we see the functioning of this government over last six years, we will be able to see many transformational stories. Opening of over 40 crore Jan Dhan accounts for poor, more than 8 crore free LPG gas connection to safeguard our mothers and sisters from cancerous smoke, more than 10 crore toilets, 18000 villages electrified, more than 4 crore households receiving electrical connection, 6000 Rs/ year to crores of farmers, helping pregnant lady with Rs 6000, Ayushman yojana benefiting 1 crore people till date, providing treatment up to Rs 5 lakh for free., Mudra loan benefiting to crores of small businessmen, helping various startups, DBT (Direct Benefit Transfer) and many more…nothing wrong in expecting freebies from government but it has to keep the balanced approach which PM Modi is very well accomplishing it. I don’t want to go 100 years back but want to highlight what’s happening in front of our eyes, Venezuela, country which is gifted by nature with huge quantity of fuel reserves. What happened, socialist government, gave them too much of freebies, initially people enjoyed, became lazy, started importing most of the commodities. In few years, economy completely devastated, even to buy a chocolate, people need huge amount of money owing to huge depreciation of currency, even 2 times food is a big challenge for most of the people. So, we need to aware ourselves; freebies for few days or government helping us to stand on our own with self-esteem and long-term security. Everyone needs to rethink.

About 20 lakh crores package, the stimulus declared is 10% of our GDP, highest in the history. It is going to touch every individual directly or indirectly. MSME will be biggest beneficiary, this sector provides jobs to more than 13 crore people, it implies that it will take care of more than 50 crore Indians. When this sector picks up, inevitably, demand and supply chain will start benefiting other sectors as well. Support to poor and farmers is always on the top priority of Modi government. More reforms are being announced to help farmers, direct selling through E-NAM and other means so that they sell at MSP to get more money out of their hard work.

Few social media economists, comparing it with stimulus given by Trump administration. The population of USA is around 35 crores whereas we have crossed a figure of 130 crores. The statistics clearly shows that GDP of America in 2019 was 21.428 trillion Dollar whereas India had 3.202 Trillion Dollars. What it shows, India has almost 4 times more population than America but almost 7 times less GDP. Interesting point is, in 65 years, till 2014, our GDP was 2 Trillion Dollar, raised by 1 trillion dollars in 5years by Modi government. This fact needs to be appreciated by everyone.

I have a simple question to so called social media experts, why they were quiet before 2014 and never questioned previous governments, why even China is 5 times ahead than us?? Everyone has a right to criticize government and it has to be done consistently, however constructive criticism will help to grow our nation on all fronts. Regarding economy, request everyone to go through since 1947, then we will come to know what exactly went (right/wrong) over these years and then we will appreciate current governments policies and reforms, even today, lot of actions needs to be taken on various fronts, better we suggest government with effective suggestions and solutions needed to make our nation developed.

Pankaj Jagannath Jayswal
Author, Educationist, counsellor, AOL Faculty, Electrical Engineer.
Books releasing on 23rd May: Youth: Reflection of Universe in English and Hindi Yuva: Bramhand Ka Pratibimb

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Author, Writer, Educationist. Counsellor, AOL faculty, Electrical Engineer
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