Coronavirus: Former CM H D Kumaraswamy proposes ‘COVID cess’ on ultra-rich

Former Karnataka chief minister H D Kumaraswamy on Monday proposed imposing a “COVID cess” on the ultra-rich to make up for the loss of revenue due to the lockdown.

Expressing concerns on India’s economy, the JD(S) leader called for “citizen-centric” measures.

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“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,” Kumaraswamy said in a tweet. 

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

It was “high time” for the government, he said, to announce schemes to “save livelihoods of people, especially those in the unorganized sector.” He demanded “immediate relief” to farmers, construction workers, cab/auto drivers, garment workers and others.

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