New Delhi Senior Congress leader Anand Sharma said on Sunday that strict measures are needed to revive the economy. Time is running out to prevent a serious and long-term economic crisis. Referring to the need for extraordinary response in exceptional circumstances, he said that only strict steps and sector-wise encouragement can save us from economic ruin.
He said on Twitter, the first package was small and too inadequate for economic revival. Fiscal deficit and inflation cannot be considered, as it should be postponed and India should spend five to six percent of its gross domestic product (GDP) in dealing with the corona virus crisis. He said that it is necessary to revive economic activities, because the jobs and employment of millions of people have ended. Plans to start factories and businesses should be announced and interstate movement of cargo containers restored. Otherwise a major supply crisis will arise.
He said that the essential commodities in the shops would be exhausted and this would further shock the economy. The Congress leader said, this battle can be won with a vibrant economy and national resolve. It is expected that the Prime Minister will consider these constructive suggestions in the national interest. He said that India is united to face the challenge of Corona virus and such solidarity is natural in times of crisis. It gives hope and strength. In another tweet, he said, being ordered and imposed makes it superficial and meaningless. Solid action cannot be compensated by mere talk.