Raghuram Rajan Helped Plan Minimum Income Guarantee Scheme: Rahul Gandhi
Congress President Rahul Gandhi on Tuesday said that former Reserve Bank of India governor Raghuram Rajan was among top economists that the party consulted to draft its minimum income guarantee scheme Nyuntam Aay Yojana or NYAY. Announced yesterday, the scheme assures up to Rs 72,000 a year or Rs 6,000 a month to 20 per cent of India's poorest families if the Congress is voted back to power.
Any family earning less than Rs 12,000 a month will receive the difference, up to Rs 6,000, in its bank account under the plan. Rahul Gandhi, facing a tough opponent in Prime Minister Narendra Modi, called the proposal a "final assault on poverty" and said it would benefit 25 crore people.
On Tuesday, speaking at an event in Jaipur, Mr Gandhi said, "The Prime Minister promised Rs 15 lakh to everybody but it was a lie. But we will turn this thought into reality. We have consulted economists, including Raghuram Rajan."
The programme is likely to have a major impact on the country's exchequer, costing a huge Rs 3.6 lakh crore per year.
The BJP has dismissed Mr Gandhi's announcement as a poll gimmick lacking details.
The proposed cash handout is seen as modelled loosely on universal basic income, a concept attracting growing interest around the world. Supported by Facebook founder Mark Zuckerberg among others as a way to reduce inequality, UBI involves people being given a flat lump sum by the state instead of subsidies and social security payments.
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