Bhartiya Mazdoor Sangh wants govt to consider financial stimulus to revive economy

RSS-affiliate trade union Bhartiya Mazdoor Sangh has urged government to come up with common support in the form of wage subsidy, tax holidays, immediate payment of GST dues, extended loan moratorium, relaxation in regulatory norms and tax rationalisation to help revive the economy. BMS also suggested government look at sectors that can be revived immediately with the revival of demand.

"Financial stimulus across major sectors should be given so that negative impacts can be reduced to certain extent," BMS secretary general Vrijesh Upadhaya said in a letter, dated April 16, 2020, to Prime Minister Narendra Modi.

Further, BMS has suggested government prioritise sectors that needs immediate revival without must effort considering the fiscal constraints with the Centre.


"In the wake of limited resources at disposal, it is necessary to prioritise the revival of various sectors of the economy," it said.

According to BMS, there are certain sectors of the economy like agriculture, retail and certain components of MSMEs can be revived immediately without much effort.

"Government should look forward to putting money in the hands of consumers through social welfare schemes like MGNREGA," it said.

Admitting that revival in other sectors need long-term planning as they are capital intensive, BMS said government should invest more in human development through increased investment in education, health, social security and social welfare measures.