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Economy to move after implementing suggestions of Economic Committee

CM Shri Chouhan talks through video conference to deal with economic crisis  

भोपाल : सोमवार, अप्रैल 27, 2020, 21:33 IST

Chief Minister Shri Shivraj Singh Chouhan has said that the obstructed economic activities due to the lockdown in the present Corona crisis has adversely affected the state’s economy. To improve and set the economy into motion again, we formed a committee of experienced economists and invited their valuable suggestions. By implementing these suggestions, we will empower the economy again. The Chief Minister said that the first report has arrived today. The second report is coming soon. Shri Chouhan said that according to the prevailing circumstances of Madhya Pradesh, we should bring the economy back on track by increasing the means of employment and income. Shri Chouhan said this while discussing with the members of the committee constituted by the state government to deal with the economic crisis in the state through video conferencing today.

Financial package

Chief Minister Shri Chouhan said that as per the suggestions of the members of the committee to improve the economy, all efforts will be made to get financial assistance from the Government of India along with curtailing expenses. The financial package announced by the state government due to Covid-19 prominently includes advance payment of two months pension to 46 lakh different pensioners, assistance of Rs one thousand to 8 lakh 50 thousand labourers, insurance cover of Rs. 50 lakhs to employees of various departments of the state government engaged in Covid-19 duty.

Wheat procurement work

The Chief Minister said that despite the Corona crisis, the work of purchase of wheat of farmers at support price is going on in the state. This will give pace to the economy. Till date, we have procured about 20 lakh metric tonnes of wheat. We are also going to purchase gram, lentil and mustard on support price soon. Our target is to procure one crore metric tonnes of wheat. This time the government has provided the facility of purchase to farmers through Sauda Patraks, from which they are selling their crops to traders from home. Under this, about four lakh metric tonnes have been purchased so far.

MNREGA work begins

The Chief Minister informed that MNREGA works have been started in the infection-free rural areas to provide employment to labourers in the state. Till yesterday, about five lakh persons have been given employment under this. Simultaneously, the government is also starting infrastructure works like road construction. For this, the government will require additional funds.

Grant of Rs one lakh crore required

Economist Professor Rathin Rai stressed on the need to start agriculture, animal husbandry and construction activities. He said that a grant of about Rs one lakh crore will be required from the Government of India to undertake various works in the state. He informed that the state’s revenue will decline by about 25 to 30 percent due to Corona crisis.

Need for CSR activities

Economist Shri Sumit Bose said that CSR activities will also be required to improve the economy of Madhya Pradesh. If grant is not received from the Government of India, the amount will have to be taken from the market. He said that distribution of social security pension is essential. He said that the economic package announced by the state government and the Pradhan Mantri Garib Kalyan Yojana package released by the Government of India is important to boost the economy.

Pradhan Mantri Garib Kalyan Yojana

The Pradhan Mantri Garib Kalyan Yojana package released by the Government of India mainly includes insurance cover of Rs 50 lakhs to workers, doctors, etc. engaged in the health sector, 5 kg of wheat / rice and one kg of pulses to 1.11 crore eligible families. Rs 500 to be deposited in 1.69 core Jan Dhan accounts of women for three months, ex-gratia of Rs. 1000 to poor, aged, poor widows and poor disabled (about 22 lakhs), payment of first installment of Rs. 2000 in the current year to 64.96 lakh farmers under the Pradhan Mantri Kisan Yojna.

Providing employment to urban poor must

Economist Shri A.P. Shrivastava said that there will be a need to provide employment to the urban poor. Small traders will also need a grant from the state government to build up their business. Employment will have to be provided to rural labourers in their village itself. He informed that this time a revenue loss of about Rs 26 thousand crores is expected. Economist Prof. Ganesh Kumar said that small enterprises will need protection. They will have to give substantial guarantee to take money from banks.

Arrangement of additional funds must

Committee Coordinator Shri Anurag Jain informed that additional funds will be required for agriculture, dairy and employment oriented work in the state. He informed that recommendations are being sent to the Government of India in this connection.

Among those present in the meeting were Chief Secretary Shri Iqbal Singh Bains along with Committee Coordinator and Additional Chief Secretary Finance Shri Anurag Jain and Members Shri Sumit Bose, Former Finance Secretary Government of India, Dr. Rathin Roy Director NIPFP, Prof. Ganesh Kumar Nidugala I.I.M. Indore, Shri A.P. Srivastava Director General Academy of Administration were present in the meeting.


Pankaj Mittal
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