Will middle class be the new poor?

0
Poverty and wealth visible in one frame with a poor slum area known as Cuff Parade in the foreground and a string of white hi-rise apartments for the wealthy in the background just across the river.
Poverty and wealth visible in one frame with a poor slum area known as Cuff Parade in the foreground and a string of white hi-rise apartments for the wealthy in the background just across the river.

Where the whole world is scared of COVID-19 pandemic and finance experts finding out a way to manage the economic crisis , Congress leader Rahul Gandhi warned on Saturday that if the government doesn’t infuse cash into the economy, “the poor will be decimated, the middle class will be the new poor and crony capitalists will own the country”.
He highlighted a news where he mentioned about the condition of retired workers of a non-public company, who were looking at a protracted battle ahead.


The Congress leader has asked the government to supply a minimal amount of Rs 10,000 to every poor family immediately and supply them with Rs 7,500 monthly for the subsequent six months for them to survive the effects of lockdown.
He also added the idea to introduce a financial incentive package for small and medium industries.
“If the Government of India doesn’t inject cash to start out the economy now: The poor are going to be decimated and the center class will become the new poor. Crony capitalists will own the complete country,” Gandhi said on Twitter on Saturday.
Gandhi has been asking the government to provide monetary help to the people, especially to the small industries, to enable them to restart the economy, which has suffered complications because of the lockdown.
The government has also held back the discharge of complete data of index of commercial production (IIP) for April, saying it’s not appropriate to match the IIP data with earlier months due to COVID-19 lockdown.

PTI Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here