‘Direct Cash Transferred is Required’ : Abhijit Banerjee during interaction with RG

Rahul Gandhi and Abhijit Banerjee (Screen-grab)

Temporary Ration Card for Everyone’

In conversation with Congress leader Rahul Gandhi, Economics Nobel Laureate Abhijit Banerjee stressed on the need for stimulus package to revive the Indian Economy. Mr. Banerjee said “there are two concerns, one is how to avoid chain of bankruptcies , may be writing of lot of debts …. Second is demand shortfall and getting some cash into hands of people is the best way to kick start the economy”

Abhijit Banerjee during Conversation : Key Points

  • AADHAR based Public Distribution System (PDA) would have been really helpful during the current crisis. The lack of massive leaves a large number of migrants behind which is huge concern
  • Spending is the biggest step for Economic Revival . “We need a stimulus package , That’s what USA , Europe , Japan did but we still taking about 1% of GDP which is a huge concern. While a monitoring body for debt payments is a good step. However, targeting MSME’s sector is not the correct approach because the idea is to raise demand ” Abhijit Banerjee during interaction
  •  Sooner the lockdown is lifted, the better
  • Temporary ration card for everyone .
  • Direct Cash transferred is required . “We have to be wiling to give money directly to state government and not sit out hands fearing mismanagement of funds “
  • A centralized Approach is important amid the coronavirus crisis . Screening of migrants before the large movements amid the country is a concern and needs to be undertaken by the Federal Government.
  • Being brave is the only way amid caste problems.

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