Govt Should Lower Cost Of Living, Impose COVID Cess On Ultra Rich: HD Kumaraswamy

Mumbai: Janata Dal-Secular leader and former Karnataka Chief Minister HD Kumaraswamy said on Monday that the government should work towards reducing the cost of living as the spending power of the consumer has weakened, and it should impose COVID cess on the ultra-rich.

“According to RBI and international economic assessment agencies, the GDP growth rate of the country is expected to fall to a historic low. Such a dire situation calls for citizen-centric measures like full or partial waivers of EMIs, rents, school fees, and other levies,” he added.

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“The economy won’t bounce back within a very short period. It is important to lower the cost of living as the spending power of the consumer has depleted. The government must cut the petrol/diesel prices. The loss of revenue may be offset partially by imposing COVID cess on the ultra-rich,” Kumaraswamy tweeted.

Kumaraswamy further said that the government must announce schemes to save the livelihoods of people, especially those in the unorganised sector.

“It is high time the government announced schemes to save livelihoods of people, especially those in the unorganised sector. The government must provide immediate relief to farmers, construction workers, cab and auto drivers, garment workers, etc,” the former Karnataka CM tweeted.

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The Confederation of Indian Industry (CII) said on 23 April that India’s economic growth was likely to be between zero and 1.5 percent in the current fiscal as the extended COVID-19 lockdown slows activity in most areas.

India is under a nationwide bandh which was imposed on 25 March and later extended from 14 April to 3 May to prevent the spread of coronavirus.

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