NYAY Scheme is recently announced by the Congress Party President Mr. Rahul Gandhi. Do you think the government will fulfil the promise, if yes then Nyuntam Aay Yojana will be the biggest universal basic income scheme? The Nyuntam Aay Yojana has been raised a number of question in front of the country. Does the Congress will complete their Promise, How they will identify the real beneficiaries. In our country approximate 40% in rural areas 10% urban families has Minimum Monthly income below Rs 12000 then how Congress party will find out 20% Beneficiaries among them. There are lots of questions in our mind how is Possible to Give Rs 72000 to a single family. What will be the effect of NYAY Scheme on GDP? Today here we are trying to provide you some answer of these questions so let’s start now.
Is Nyuntam Aay Yojana Financial viable?
If we calculated the total amount of the NYAY Scheme then it will become Rs 3.6 Lakh Crore. It’s really a big amount for any country which will definitely affect the GDP of India and Nyuntam Aay Yojana will definitely increase the burden of tax on tax payers of India. The scheme will also impact the economic growth of the country. There is also a disadvantage behind the scheme; it will make the citizen of India good-for-nothing because Rs 6000 p.m is enough for a poor family to survive.
Does Government Will Stop All Type Of Subsidies?
There is big question in the mind of Common man, if Congress Party Comes in Power and they will start to serve the benefits of the NYAY Yojana to the beneficiary then will they Stop all subsides schemes or not? If they don’t do that then it will be hard to bear all financial burdens by the government. Do you know that NYAY scheme expected cost is Rs 3.6 trillion which is 1.7% of the forecasted gross domestic product (GDP) for 2019-21.
Effect of NYAY Scheme On Economic Growth of India
Many Indian and foreign economist has Expressed their Concern and asking to the Congress party how they will implement the scheme because there are a lots of conflicts behind the scheme. The Congress Party President are saying that we will implement the Scheme as before we implemented MGNREGA but he don’t know it is not so easy to implement the minimum income guarantee (MIG) scheme. NYAY Scheme will affect GDP & Economic Growth of India.
Impact of Nyuntam Aay Yojana (NYAY Scheme)
If Congress Party comes in the Power after Lok Sabha election 2019 then will Party fulfil their Promise? We may expect yes because they have fulfilled their election pre poll promise in MP & Rajasthan state. Congress has waived the farmer’s crop loans in those states but the question is that how Congress will implement the Scheme because till now they do not have explained any selection process or working process of the scheme. The expectation that Party will implement the scheme is Phase wise manner and the financial support will be provided through Direct Transfer Method.
- NYAY Scheme will increase the extra tax Burden upon Tax Payers.
- It is also possible that scheme will cancel all previous subsidy scheme of the beneficiary.
- Minimum income guarantee Scheme will affect the Economic growth of India.
- It is also possible that scheme will make people lazy.
How Congress Will identity the Beneficiary?
There is no clear method has been presented by the Congress Party for including the beneficiaries under the scheme. At this time they only told that the 20% of poor Families whose Monthly income from all sources is less than Rs 12000 will be count as a beneficiary of the Nyuntam Aay Yojana (NYAY). This amount will be transfer in women bank account through direct bank transfer.
How To Congress Will implement the NYAY Scheme
At this time minimum income guarantee (MIG) Scheme is at the initially stage and there is no additional information is available. We will update here every detail as soon as Congress party will release it.