Placeholder canvas

Congress’ income guarantee promise will burst fiscal discipline: NITI Aayog VC Rajiv Kumar

Date:

NITI Aayog Vice-Chairman Rajiv Kumar on Monday said Congress party President Rahul Gandhi’s promise of providing Rs 72,000 annually to five crore families, if voted to power, will create strong incentives against work and burst fiscal discipline.

At a press conference in New Delhi, Gandhi announced that 20% families belonging to the poorest category will be given Rs 72,000 each annually as minimum income if his party comes to power.

“True to its past record of promising the moon to win elections, Congress President announces a scheme that will burst fiscal discipline, create strong incentives against work and which will never be implemented,” Kumar said in a tweet.

In another tweet, he said the cost of the minimum income guarantee scheme at 2 per cent of the gross domestic product and 13 per cent of the budget will “ensure” that real needs of people remain unsatisfied.

Kumar also said the Congress party had promised ‘Garibi Hatao’ in 1971, ‘One Rank One Pension’ in 2008, food security in 2013 to win elections, but could not fulfil any of those.

The ‘same unfortunate fate’ awaits the populist and opportunistic promise of minimum income guarantee, he added.

ALSO READ: India to launch electronic intelligence satellite on April 1

Meanwhile, the Economic Advisory Council to the Prime Minister (EAC-PM) also criticised the pre-poll announcement by Gandhi in series of tweets, but later deleted them after it was pointed by a twitter user that they were in violation of the model code of conduct.

EAC-PM had tweeted that in the last five years, a lot of hard work has gone into striking the right balance between economic growth, inflation and fiscal discipline.

“INC’s income guarantee scheme (as of 25/03/2019) would either upset this balance or severely cut critical government spending. Both options dangerous,” it said.

The proposed income guarantee scheme fails the economics test, fiscal discipline test and execution test, it added.

When tweeter user @sumedhbhagwat pointed out to EAC-PM members that the tweets were in violation of the model code of conduct, Council’s Chairman Bibek Debroy deleted the messages on the micro-blogging site.

“Tweets being deleted. Thanks for pointing out,” Debroy said in a tweet. The Council consists of Ratan P Watal, Rathin Roy, Ashima Goyal and Shamika Ravi.

About 900 million are eligible to vote to elect the next Lok Sabha in seven-phased polling beginning April 11.

(With agency inputs)

Click here for Latest News updates and viral videos on our AI-powered smart news genie

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Bulgarian President Thanks PM Modi After Indian Navy Rescued Hijacked Bulgarian Ship

In December 2023, the Rouen ship carrying eight Bulgarians, nine Myanmarans, and one Angolan national was taken prisoner by pirates in the Arabian Sea

Vinay Kumar Appointed As Next Ambassador Of India To Russia

New Delhi: Vinay Kumar (IFS: 1992), presently Ambassador of...

Kamala Harris Calls Trump ‘A Threat To Democracy’

In a post on her official X handle the Vice President stated that Donald Trump is a threat to democracy and fundamental freedoms

NewsMobile Morning Brief

President Joe Biden Signs Executive Order To Expand Women’s...