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No stimulus, only disappointment in FM’s package: Kumaraswamy

Former Chief Minister H D Kumaraswamy said that he was disappointed with the stimulus package announced by Finance Minister Nirmala Sitharaman.

Published: 20th May 2020 06:49 AM  |   Last Updated: 20th May 2020 01:36 PM   |  A+A-

Former Chief Minister HD Kumaraswamy arrives for a press conference at Vidhan Soudha, Bengaluru

Former Chief Minister HD Kumaraswamy arrives for a press conference at Vidhan Soudha, Bengaluru. (Photo | Nagaraja Gadekal, EPS)

By Express News Service

BENGALURU: Former Chief Minister HD Kumaraswamy said that he was disappointed with the stimulus package announced by Finance Minister Nirmala Sitharaman.Addressing media persons on Tuesday, Kumaraswamy stated that the Centre’s decision was not transparent. “The attention given to migrant labourers, small vendors or payment of wages in MSMEs was unclear.

I am unsure on what basis the minister considered that the measures announced are new and would have solved the problems that the MSME sector is facing. Minister Sitharaman is perhaps unaware of the difference between relief and development expenditure. These expenditures cannot provide any relief to pandemic-struck India.”

“Banks have been annually providing collateral-free automatic loans to MSMEs and there is nothing new about this because such schemes have been in existence for over 50 years under various names. The finance minister is now presenting development loans as an economic stimulus. Stimulus is a support measure given by the government in times of difficulty. Direct cash support will help them stay afloat,” he said. 

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