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Former Union Finance Minister P Chidambaram on Sunday suggested the government to borrow more to help stimulate demand and revive the country’s economy.
The senior Congress leader also suggested some measures to raise money which include relaxing FRBM norms, accelerating disinvestment and borrowing money from global banks.
As part of his measures to revive the economy, he sought transferring cash to the poorest 50 per cent of families, offering them food-grains and increasing spending on infrastructure, besides paying arrears of GST compensation to states.
Chidambaram has been urging the government to take concrete measures to revive the economy and has called upon it to provide GST compensation to states, as promised to them at the time of GST implementation.
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