71 pc Indians think govt's stimulus package will lead to economic recovery: Study

Around 71 percent 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 percent) 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 favorably (76 percent) than those from tier-I cities (67 percent)

Further, only 15 percent seems unhappy with the package

Dissatisfaction is the highest among people from the south (21 percent) as compared to the other regional residents, the survey said. Similarly, tier-I residents (21 percent) seem unhappier with the offered benefits compared to tier-II (14 percent) and tier-III (10 percent) residents. Even though a majority supports the economic package, fewer than half see it benefitting them personally. From the various schemes, four in 10 urban Indians (43 percent) 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 percent). One in three (33 percent) see themselves benefitting from the 'extension of credit linked subsidy scheme for middle-income groups', 'starting of online courses by top 100 universities' (31 percent) and 'interest subsidy for small business under Mudra-Sishu loans' (30 percent), it added. Asked about the provisions that could benefit the underprivileged (migrants and poor, among others), the majority of respondents (61 percent) believed 'distribution of free food grains' is most likely to work to their advantage. More than half (53 percent) 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 realizing the idea of a self-reliant India, only one-third (33 percent) of urban Indians think so, it said. Some think this package will create new job opportunities (21 percent), while others see it giving a boost to the smaller businesses (20 percent) or the rural economy (17 percent), the study added.