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Economic Experts Consulted for 5 Crores Indian Min Guaranteed Income Says Chidambaram

Congress Party’s minimum guaranteed income scheme will be rolled out in phases and the five crore beneficiary families will be covered in phases, senior leader P Chidambaram said on Wednesday.
 
Addressing a press conference in Chennai, the former Finance Minister said enough economists and experts in the subject have been consulted and they broadly agreed that India has capacity to implement the scheme.
 
He said the allocation for the scheme is expected to constitute 1.8% of the GDP.
 
Chidambaram said the former RBI Governor Raghuram Rajan was of the view that the implementation of the scheme is possible.
 
“The scheme will be rolled out in phases and we will cover the five crore families in phases,” he added.
 
The Scheme if Implemented will cost 3.6 Lakhs Crores per annum but bound to uplift 25 Crores Indians from Poverty line maintains congress leaders
 
The senior party leader said the scheme has to be tested in the field before being rolled out.
 
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,” he said.
 
There is enough data to identify the five crore families, Chidambaram added.
 
However BJP party men sounding negativity of this scheme ever since Rahul made public announcement on Monday
 
Splco Reporter
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