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Release Rs 5 lakh cr aid to people: CPI-M to Centre

March 09, 2009 13:50 IST

Communist Party of India (Marxist) Politburo member and Andhra Pradesh unit secretary B V Raghavulu has demanded that the government of India immediately come out with a Rs 5 lakh crore (Rs 5 trillion) relief package to aid people in these troubled times.

"The global economic recession has left a tremendous impact on our economy as well and left lakhs of people jobless. The food security of the people has also been threatened.

"It is high time that the government come out with a massive relief package," Raghavulu told a press conference in Hyderabad on Monday.

The US government had been implementing a massive relief package while the Chinese government announced a Rs 25 lakh crore (Rs 25 trillion) package, he pointed out and wanted the Union government to announce a Rs 5 lakh crore package for Indians.

"Schemes like the Cash Transfer Scheme mooted by the Telugu Desam Party are needed in this time of crisis. Such safety net programmes are very essential. The Centre should in fact release grants to the state governments to implement such schemes," Raghavulu said.

The CPI-M Politburo member also wanted the Centre to release funds to the state road transport corporations to purchase new buses.

"This will revitalise the automobile industry and provide more jobs," he said.

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