Former Prime Minister Manmohan Singh on Saturday dismissed fears about the viability and funding of the Congress’s promised minimum income guarantee scheme, the Nyuntam Aay Yojana or Nyay, particularly the idea that it cannot be implemented without excessive taxation. “Nyay will cost between 1.2 per cent (and) 1.5 per cent of (the) GDP at its peak. The economic stimulus that Nyay will provide will further help in fiscal discipline.”Singh added: “Nyay will ensure a basic level of dignity and respect for every Indian family. By providing direct income support, Nyay will empower our poor with economic freedom and choice. “With Nyay, India will usher in an era of a minimum income guarantee and help create a new social contract for a new welfare state.

Source: The Telegraph April 21, 2019 01:30 UTC