COVID-19 lockdown: Kumaraswamy calls for lowering cost of living

Former Karnataka Chief Minister H D Kumaraswamy urged the Centre to lower the cost of living as economy and people are badly affected by the COVID-19 outbreak. Stating that the economy won't bounce back within a very short period, he said, it is important to lower the cost of living as the spending power of the consumer has depleted.

Bengaluru: Former Karnataka Chief Minister H D Kumaraswamy has called for citizen-centric measures and stressed the need to lower the cost of living, as he cautioned the state and Central governments about the impact of COVID-19 lockdown on economy and people.

Calling for measures like partial waivers of EMIs, rents, school fees, cut in petrol and diesel prices, the JD(S) leader said, the loss of revenue may be offset partially by imposing 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," Kumaraswamy tweeted.

Stating that the economy won't bounce back within a very short period, he said, it is important to lower the cost of living as the ding power of the consumer has depleted.

"The govt must cut petrol and diesel prices. The loss of revenue may be offset partially by imposing COVID cess on the ultra-rich," he added.

Further, Kumaraswamy said, 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, he added.

India's GDP is likely to range between a decline of 0.9 per cent and a growth of 1.5 per cent in the current financial year, with the economy undergoing a "turbulent" phase caused by the coronavirus-induced lockdown, according to a recent report by CII.

(PTI)