Economic Package and India

Economic Package and its repercussions

It is said that Leaders are born at the time of crisis. Today India is facing one of the most difficult times economically. Most of the enterprises are suffering major financial losses due to ongoing lockdown. Lockdown was an important step taken by our Government on time; Due to which we were able to save many lives. But now it is time to take charge of our economic woes and face this challenge head on.

Indian Govt. has also recognized its importance and has proactively taken many step to face this callange of economic slowdown. The most recent decision making headlines is the economic package introduced by them valued at Rupees Twenty Lakh Crore (Rs. 20000000000000), which has attracted many reactions in favor and against.

This economic package is seen as both beneficial as well as destructive for people of India because of so many ministers and officials involved in it. By announcing this economic package, the Honorable Prime Minister Narendra Modi has asked the people of the nation to be Atamnribhar (Self Dependant) and Be vocal for Local, which means that we produce and use more products and services provided by the companies originated from India.

Although, this package is being introduced to stabilize our economy which is suffering from theCovid-19 pandemic spread; I personally see this economic package as both an opportunity and a threat to the economy of India.

I see this economic package as an opportunity because it will help small businessmen, farmers, workers, daily wagers etc. to survive through the situation in which our nation is at this moment. Also the government has said that they are giving this package as a loan to the people that will make people liable and responsible to return the loan when they have recovered and the economy is stable too.

But this economic package also worries me as there are many people in the system that prefers to fill their pockets rather than to help the people in desperate need. Another reason I keep into consideration is that distribution of this package might make the people Over Dependant on Government which will be dangerous when Government will be in recovery phase and may cry foul. They may try to pressurize Govt. to waive off loans or simply become defaulters.

By providing this package, the government is putting a great burden on GDP of India as it is a fair 10% of the GDP, which will be a long process of recovery in the future. But by foreseeing the promises of ‘Modi Sarkaar’, a citizen can and will feel relieved for now from the losses they are facing because of the pandemic and lockdown.

I conclude by saying that the decision of providing economic package is one of the biggest decisions made by the government for the welfare of the people. And I hope that this package will benefit the citizens directly. Let’s see how the decisions of the government will benefit the people of our beloved nation, India.

To tell you the truth I see a ray of hope in these gloomy times because I would rather be Annoyingly Positive and optimistic than destructively negative and hateful.