Stimulus package deeply disappointing, says Thomas Isaac

Thiruvananthapuram: Kerala Finance Minister Thomas Isaac on Wednesday described as “deeply disappointing” the first set of measures announced by the Centre as part of the Rs 20 lakh crore stimulus package.

The details announced by Finance Minister Nirmala Sitharaman were disappointing and they would not help save the country or make it self-reliant, Isaac told reporters here.

What is the point of talking of the package which has given nothing for the workers, he said.

As GST (goods and service tax) compensation, the states have to be given at least Rs 75,000 crore. Nothing has been said about this in the package, the Minister said.

For the small-scale sector Rs three lakh crore without security has been announced, which he said was welcome. However, the sector has sought extension of moratorium to one one year from the present three months and the interest component to be paid by the Centre.

In a tweet, Isaac said “If the first day’s package of Union FM is a fair samplem the Rs 20 lakh cr stimulus is going to be deeply disappointing. The actual outflow resources directly from the budget is only around Rs 30,000 crore. At least the interest payment of MSME sector during the moratorium could be waived.