Coronavirus pandemic | HD Kumaraswamy proposes ‘COVID cess’ on ultra-rich Indians

Former Karnataka Chief Minister and Janata Dal (Secular) chief HD Kumaraswamy proposed that the government levy “COVID Cess” on the super-rich of the country to make up for the loss in revenue collection.

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In view of an inevitable reduction in the purchasing power of the people due to the novel coronavirus outbreak, the cost of living will lower in India. To alleviate their financial stress, the government can slash down prices of diesel, petrol, etc, the JD(U) leader suggested, adding that this amount can be recovered by levying a cess on the ultra-rich.

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Taking to social media on April 27, he further wrote:

According to RBI and international economic assessment agencies, the GDP growth rate of the country is expected to fall to a historic low. Such a dire situation calls for citizen centric measures like full or partial waivers of EMIs, rents, school fees and other levies.

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— H D Kumaraswamy (@hd_kumaraswamy) April 27, 2020

The economy won't bounce back within a very short period. It is important to lower the cost of living as spending power of the consumer has depleted. The govt must cut the petrol/diesel prices. The loss of revenue may be offset partially by imposing COVID cess on the ultra rich.

— H D Kumaraswamy (@hd_kumaraswamy) April 27, 2020

It is high time the government announced schemes to save livelihoods of people, especially those in the unorganized sector. The government must provide immediate relief to farmers, construction workers, cab & auto drivers, garment workers, etc.

— H D Kumaraswamy (@hd_kumaraswamy) April 27, 2020