Photo: Mint Details of the proposed minimum income guarantee scheme (MIGS) have now been released by the Congress. In brief, the scheme envisages transfer of a maximum of ₹6,000 per month to the poorest 20% households to help them reach a minimum income of ₹12,000 per month. This is likely to benefit 50 million households and cost ₹3.6 trillion.
The announcement of the scheme is an important break from the existing consensus on economic policy from two different perspectives. First, it is a clear acceptance that the model of economic growth followed in the last three decades has led to […]
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