71% Indians think government’s stimulus package will lead to economic recovery: Study

MUMBAI: Around 71 per cent of Indians believe the government’s over Rs 20 lakh crore stimulus package will lead to economic recovery, a study said. The Centre earlier this month announced a mega relief package to mitigate the economic impact of the COVID-19 crisis.

A vast majority (71 per cent) of Indians either agree or strongly agree that the relief package will lead to economic recovery, the study by global market research and data company YouGov said.

The survey was done online by YouGov Omnibus among 1,005 respondents in India between May 19-22, 2020.

It found that respondents from tier-III cities are more likely to view this package favourably (76 per cent) than those from tier-I cities (67 per cent).

Further, only 15 per cent seem unhappy with the package.

Dissatisfaction is the highest among people from the south (21 per cent) as compared to the other regional residents, the survey said.

Similarly, tier-I residents (21 per cent) seem unhappier with the offered benefits compared to tier-II (14 per cent) and tier-III (10 per cent) residents.

Even though a majority support the economic package, fewer than half see it benefitting them personally.

From the various schemes, four in 10 urban Indians (43 per cent) feel they are most likely to benefit from the ‘increased public expenditure on healthcare’ and the ‘reduction of TDS/TCS rates for non-salaried section’ (40 per cent).

One in three (33 per cent) see themselves benefitting from the ‘extension of credit linked subsidy scheme for middle-income groups’, ‘starting of online courses by top 100 universities’ (31 per cent) and ‘interest subsidy for small business under Mudra-Sishu loans’ (30 per cent), it added.

Asked about the provisions that could benefit the underprivileged (migrants and poor, among others), majority of respondents (61 per cent) believed ‘distribution of free food grains’ is most likely to work to their advantage.

More than half (53 per cent) were in support of ‘one nation one ration card’ provision under which the government has allowed inter-state portability of ration cards.

Although the government believes the economic package will go a long way in realising the idea of a self-reliant India, only one-third (33 per cent) of urban Indians think so, it said.

Some think this package will create new job opportunities (21 per cent), while others see it giving a boost to the smaller businesses (20 per cent) or the rural economy (17 per cent), the study added.

Source: indiatimes.com