Kumaraswamy suggests COVID cess on ultra rich to offset revenue loss
Bengaluru, Apr 27 () Former Karnataka ChiefMinister H D Kumaraswamy on Monday suggested imposing "COVIDcess" on the ultra rich to offset the loss of revenue, as hecalled for citizen-centric measures and lower the cost ofliving, to help those affected by the lockdown.
Cautioning the state and Central governments about theimpact of COVID-19 lockdown on economy and people in turn, theJD(S) leader advised for measures like partial waivers ofEMIs, rents, school fees, cut in petrol and diesel prices.
"According to RBI and international economicassessment agencies, the GDP growth rate of the country isexpected to fall to a historic low. Such a dire situationcalls for citizen centric measures like full or partialwaivers of EMIs, rents, school fees and other levies,"Kumaraswamy tweeted.
Stating that the economy won't bounce back within avery short period, he said, it is important to lower the costof living as spending power of the consumer has depleted.
"The govt must cut the petrol and diesel prices. Theloss of revenue may be offset partially by imposing COVID cesson the ultra rich," he added.
Further, Kumaraswamy said, it is high time thegovernment announced schemes to save livelihoods of people,especially those in the unorganised sector.
The government must provide immediate relief tofarmers, construction workers, cab and auto drivers, garmentworkers, 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 currentfinancial year, with the economy undergoing a "turbulent"phase caused by the coronavirus-induced lockdown, according toa recent report by CII. KSU SS