NYAY scheme: How Rahul Gandhi’s income scheme plans to revive demonetisation hit economy

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Published: March 28, 2019 4:43:16 PM

NYAY, the minimum guaranteed income scheme, comes with a two-fold objective - provide money to poor and revive the economy - Congress president Rahul Gandhi.

Rahul Gandhi, nyayThe minimum guarantee scheme basically aims to revive the informal sector which has been deeply impacted by demonetisation and poorly executed GST, he added.

NYAY, the minimum guaranteed income scheme, comes with a two-fold objective – provide money to poor and revive the economy – Congress president Rahul Gandhi told news agency PTI. The main aim of the universal basic income is to provide money to the 20 per cent poorest families and remonetise the economy hit hard by demonetisation, he also told the news agency in an interview.

The minimum guarantee scheme basically aims to revive the informal sector which has been deeply impacted by demonetisation and poorly executed GST, he added.

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The Congress president also explained why the scheme has been named as NYAY (justice in Hindi).  “There is another aspect to calling the scheme ‘Nyay’. Why have we chosen to call this scheme ‘Justice’? Because over the last five years, Mr Narendra Modi has simply snatched from poor and given nothing back”, he told PTI.

Describing NYAY as the final assault on poverty, Congress president said that the aim of the party is to completely eliminate poverty from India.

The Congress president recently announced a minimum income guarantee scheme under which 20 per cent of the poorest families would be eligible for Rs 72,000 from the government every year if they come to power in the upcoming Lok Sabha polls.

As per the scheme, the money will be deposited in the accounts of the women of the households. According to Rahul Gandhi, the scheme will benefit 5 crore households, taking the additional annual expenditure to Rs 3.6 lakh crore.

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