Congress leader P Chidambaram Wednesday said that his party has consulted enough economists who believe that India has the capacity to implement the proposed minimum income scheme, PTI reported.
Congress’ minimum income scheme will be rolled out in phases and cover 5 crore families. We have consulted enough economists and they have broadly agreed that India has the capacity to implement the scheme,” Chidambaram was quoted as saying by PTI.
He said the allocation for the scheme is expected to constitute 1.8 per cent of the GDP.
Congress president Rahul Gandhi had proposed the Nyunatam Aay Yojana (Nyay) scheme or the minimum income scheme for the poor on March 25, promising a minimum income of Rs 72,000 per year to the poorest families in the country if his party is voted to power in the upcoming general elections. Gandhi had said that the scheme would be the last assault on poverty in India.
About the implementation of the scheme, Chidambaram said the scheme has to be tested in the field before being rolled out. There is enough data to identify the five crore families, Chidambaram added.
“An expert committee will be set up for the implementation of the scheme and it will design it at every stage and we will consult the committee before we move to next stage,” Chidambaram said.
Chidambaram said the former RBI Governor Raghuram Rajan was of the view that the implementation of the scheme is possible. Rajan had Tuesday said that targeted transfers at the very poor of the country have become a staple of capitalism and that is part of the safety net. He had also said that such transfers had to be done carefully and not to be layered upon one another.