Oppn slams first tranche of package as ‘big zero’

NEW DELHI: The Opposition slammed the Centre's announcement on the first tranche of Rs 20 lakh crore COVID-19 economic stimulus package on Wednesday as a "disappointment" and a "big zero" that has "nothing" for migrant workers, even as the BJP hailed it, saying it reflected the government's commitment towards creating jobs and stimulating the economy.

Congress leader P Chidambaram hit out at the government soon after Sitharaman unveiled the first set of incentives as part of the special package announced by Modi on Tuesday, and said it is a "prisoner of its own ignorance and fears".

While opposition parties, including the Left and the Trinamool Congress, flayed the government, the ruling BJP welcomed the package with its president J P Nadda asserting that the measures like provision of collateral free loans, debts and equity for MSMES, liquidity for NBFCS and support to real estate and other tax measures

shows the commitment to creating jobs and stimulating economy.

"I thank PM Narendra Modi and Nirmala Sitharaman for this holistic package & wide ranging steps to make India 'atmanirbhar bharat'. In this testing time, we have a compassionate and responsive government under the leadership of our Prime Minister Modi Ji," Nadda said.

In a sharp criticism, former Union finance minister

Chidambaram said the Centre has announced Rs 3 lakh crore of collateral-free loans for small businesses and asked where the remaining Rs 16.4 lakh crore was.

"Except for the modest MSME package, we are disappointed with today's announcements," he said.

"Where is the rest of the Rs 16.4 lakh crore? This government is a prisoner of its own ignorance and fears. The government

must spend more, but it is not willing to do so. The government must borrow more, but it is not willing to do so. The government must allow states to borrow more and spend more, but it is not willing to do so," he said.

Chidambaram said the first thing the government needs to do is to "put money in the hands of the 13-crore families in the bottom of the population" that will cost the government only

Rs 65,000 crore if Rs 5,000 is given to each family.

Trinamool Congress president and West Bengal Chief Minister Mamata Banerjee said the finance minister had offered nothing to states and her announcements were "a big zero".

"The special economic package announced by the Union government is nothing but a big zero. It is an eyewash to fool people. There is nothing for the unorganised sector, public spending and employment generation," she said.

However, Union Home Minister Amit Shah dubbed the steps announced by Sitharaman as "unprecedented" and said the initiatives reflected Modi's commitment to revive our economy, help small businesses and boost employment.

The Left parties said that Sitharaman failed to address the immediate concerns of people and dismissed the economic package as a "farce".

CPI'S D Raja said the package did not address the issues of joblessness and hunger.