The finance minister and her cadre cannot cure the Coronavirus. What they can do is numb the pain caused to the Indian economy. The global economy is bleeding, governments cannot just wait for the cure to support the economy. Upper and middle-class sects are under heat too, but the lower class may not be able to fend for themselves. So, to execute the rationale in these irrational times, our government has introduced a relief care package of Rs. 1.7 Lakh Crores – PM Garib Kalyan Yojana.
Here’s an overview of the Yojana:
For those confused by the title, Theseus is a hero of Greek mythology. He dived into a booby-trapped maze, popularly known as the labyrinth, slayed a beast called Minotaur and saved the day. Till the cure arrives, the government can help those who cannot deal with the deadly traps, if not the Minotaur itself. And the government did help. However, we must ask the cold question – did this alleviate their grievances aptly?
I say cold because the gesture, however warm enough, shouldn’t fall short on relief. The cash and food-grain components will soothe people’s anxieties to an extent, but may be insufficient to mitigate the economic stress in a significant way. A painkiller may not be enough. So where is the problem? The diagnosis? No, because they have targeted the right areas. The problem seems to be in the dosage.
The PM-Kisan cash transfers of ?2,000 each to 8.7 crore farmers is merely a front-loading of the instalments due later in the year. Similarly, the Mahatma Gandhi Employment Guarantee Act wages were due for upward revision anyway, to account for inflation. These changes take effect from April 1, however, the humanitarian issue also arises – it is unfair to expect workers to turn up for manual labour under the MGNREGA in lieu of social distancing.
Our country already has the classic problem of “Too many cooks spoil the broth” when it comes to yojanas and relief plans. The Central Government spends more than Rs. 3.4 Lakh crores annually on Centre – sponsored schemes. This is just one area where the schemes can be halted and funds can be redirected to this relief package. This is just one of many ways, more funds can be appropriated.
The Finance minister must increase the dosage. But it is very unlikely that the concerns will knock on her door. Because, the hapless part about this is that the Upper and Middle classes, with more voices, feel the warmth of this relief package’s intent. While the ones it is introduced for may not feel the full extent of it.
By Medhir Mehta
Literary Source: https://www.mohfw.gov.in/
