He made this suggestion during an interactive meetingModi held with Chief Ministers of all states throughvideoconferencing.
During the lockdown, the Chief Minister said the foodprocessing industry should be allowed to function to ensurethat farmers are not put to losses and that there was nodifficulty in essential commodities supply, an officialrelease quoted him as saying.
"Lockdown has helped in containing the spread of Corona(coronavirus) to a great level. It is better to extend thelockdown for two more weeks. There is no other better solutionthan this, he said. Rao also requested Modi to increase the FRBM (FiscalResponsibility and Budgetary Management) limit to five percent from the existing three, besides taking steps to postponerepayment of interest states' debts for six months.
Increase FBRM from 3 per cent to 5 per cent. The Centreshould take the initiative to postpone for six months, themonthly interest paid by States on debts from the Centre, hesaid.
He suggested that a task force with the PM as chairmanand cabinet ministers as members be set up to come out with anaction plan on helping farmers and the policy to beimplemented on the economic situation.
To counter (economic crisis) this we need a strategiceconomic policy. RBI should implement quantitative easingpolicy. This is called Helicopter Money. This will facilitatethe States and financial institutions to accrue funds.
We can come out of the financial crisis.
Release 5 percent of funds from the GDP throughQuantitative easing Policy, he suggested. The Chief Minister said that in order to empty warehousesof Food Corporation of India, three months ration should begiven to people and the depots should be filled with newlyprocured agricultural commodities during the current season.
To prevent crowding of farmers at one place, theTelangana government has set up 6,849 procurement centres atvillage level, from where foodgrains are procured, he said.
He urged Modi to link agriculture with the MNREGA(Mahatma Gandhi Employment Guarantee Act) Scheme for at leasttwo months.
Bring a policy by which farmers would pay half the wagesfor labourers and the other half would be from the MNAREGAfunds. With this we will be able to support farmers duringdifficult times, he said.
He lauded the Centre for extending required support tostates in checking the spread of COVID-19.
The support is giving us great moral courage. India willbe victorious in its war against coronavirus, Rao said. GDK APRRAVINDRANATH APRRAVINDRANATH