NYAY to be rolled out in phases to cover five crore families, says P Chidambaram on Congress' minimum income scheme

Former finance minister and Congress leader P Chidmbaram Wednesday said the Congress’ newly-launched Nyuntam Aay Yojana (NYAY) scheme, will be rolled out in phases to cover the five crore families.

The scheme will provide a minimum income of Rs 72,000 per year for five crore families with monthly income levels below Rs 12,000.

Addressing a press conference in Chennai, to explain the Congress’ manifesto’s key highlight, the NYAY scheme, Chidambaram said: “This couldn’t have been implemented 20 years ago. But now, because of the liberalisation of economy, which was implemented by a Congress government in 1991 and successfully pursued by the successive UPA governments between 2004 and 2014, there has been an increase in the funds at government’s disposal. We believe India has the capacity to implement this programme”

P Chidambaram, Congress on minimum income guarantee scheme announced by Rahul Gandhi: We will identify the poorest 20% of India's families, that is about 5 Crore families & going by an average size of 5 members per family, this scheme will benefit 25 Crore people in India. pic.twitter.com/3n7U5pcyFp

— ANI (@ANI) March 27, 2019

Explaining that the minimum income scheme will be rolled out in phases, covering the five crore families, the Congress leader said, “We have considered all the economic factors before putting out this scheme, it is Rs 72,000 per family per year. We’ve spoken to many economic and financial experts and got a positive response.”

Chidambaram also said that the details of the scheme will be announced in the party manifesto. He said that the scheme will be designed by an expert panel.

“We will identify the poorest 20 percent of India’s families, that is about five crore families and going by an average size of five members per family, this scheme will benefit 25 crore people in India, " he said.

Earlier on Monday, Congress president Rahul Gandhi had announced a Universal Basic Income scheme that would provide minimum income support of Rs 72,0000 annually to impoverished Indian families earning less than Rs 12,000 per month.

Facing a tough opponent in Prime Minister Narendra Modi in general elections scheduled to be held from 11 April, Rahul said that the programme would benefit 250 million of a population of 1.3 billion.