Tribune News Service
New Delhi, September 6
Congress chief and former minister P Chidambaram at this time stated the federal government ought to hand out money to the poorest to revive the financial system.
“Give some cash to the poorest 50 per cent of the families in the country and offer foodgrain to those who need it. Use foodgrain stock to pay wages in kind and start massive public works, recapitalise banks to enable them to lend and pay the arrears of the GST compensation to states,” instructed Chidambaram.
To increase cash, the previous minister requested the federal government to loosen up the fiscal duty and price range administration norms and borrow extra, speed up disinvestment, use the supply of USD 6.5 billion by the IMF, World Bank and the ADB and because the final resort, monetise a part of the deficit.