Raghuram Rajan backs Rahul Gandhi on Minimum Income Guarantee Plan

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As soon as Rahul Gandhi announced his Minimum Income Guarantee Plan, he was mocked and ridiculed by those in power calling it an impractical, utopian dream. Under his Nyoontam Aay Yojana (NYAY), an annual income of Rs. 72,000 is promised to the poorest 20% families of the country.

This scheme had to face a lot of flak from political opposition citing the lack of funds as the prime reason of it being a futile exercise, and even a devastating one. The nation is still struggling to cope up from the deteriorating impacts of demonetization and GST and it was being speculated that this scheme would too prove to be disastrous especially for the taxpaying middle class of the country.

What came as a surprise to many of the opponents of this scheme was that the reputed economist and former RBI Governor Raghuram Rajan has given a green signal to the Nyoontam Aay Yojana not only saying that it is doable but also adding that ““It has to be a way of creating a platform for them to become regular contributors of the workforce”.

He also stated that he has talked to Congress Chief Rahul Gandhi, former Prime Minister Manmohan Singh and former Finance Minister P Chidambaram on the scheme “My sense of what the Congress is saying is that this will all be laid out,” Rajan said. “We will figure out how to do it. They have proposed a committee, pilot projects and phased rollout.”

Gandhi on Tuesday said that Rajan was among the top economists that his party had consulted to draft the scheme.

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