Reiterating his demand for revenue grants to the States for three months to meet the shortfall in revenues and higher expenditure being incurred on relief and healthcare for Covid-19 containment and management, Punjab Chief Minister Capt Amarinder Singh on Thursday urged the Prime Minister Narendra Modi to clearly define the way forward for country’s economic revival and an exit strategy from Lockdown 3.0.
Capt Amarinder, in a letter to the Prime Minister, said: “The exit strategy may not only lay down the parameters to contain Covid-19 within safe limits but should also define path of economic revival. It should consider and focus on fiscal andeconomic empowerment of the States.”
Besides raising the demand for revenue grants, the Chief Minister also called for a directive from the Centre to the 15th Finance Commission to review its report for the current year, as the situation had completely changed due to Covid-19.
He also said that 15th Finance Commission should recommend devolution of funds for five years, beginning April 1, 2021, (instead of 2020), after factoring in the impact of Covid-19.
Capt Amarinder urged the Prime Minister to issue necessary directions to various ministries in this regard, in order to enable States to formulate clear strategies and path, post Lockdown 3.0 on May 17.
The Chief Minister pointed out that this was necessary as Covid-19 and subsequent lockdowns had led to unprecedented losses of jobs, businesses, and economic opportunities, and its true impact was yet to be known.
Pointing out that it was very well known that economy had slowed down and GDP will not rise, the Chief Minister said that Punjab’s revenues had declined by 88 per cent in April 2020.
The Chief Minister, meanwhile, assured the Prime Minister that the Punjab Government would do everything possible to contain this deadly virus to save the lives of its people.