here is my opinion on this economically.
1) Rs 3.6 lakh crore will add 1.9% to India’s fiscal deficit, taking it to 5.3% of GDP & immediate downgrade of India by global rating agencies. To avoid that other subsidies amounting to >Rs 3.2 lakh crore will have to go. Take away from left hand, give from right .
2) Those earning< Rs 12,000/month (Rs 1.44 lakh/yr) don’t pay tax or file returns. Identifying them is a logistical nightmare, apart from income manipulation to maximise top-up. Poorly thought through scheme that’ll just switch subsidies & be impractical to enforce
3) Doles create dependencies. BJP copied Cong policy on doles, Cong copying BJP policy on doles with new packaging. Neither addresses real economic reforms: privatisation, low taxes, low tariffs, labour, land & agri reform. Don’t give a man fish, teach him to fish
4) It is just not about one time identifying, what if income goes up after identification and start of benefit. Who would ensure denial or change in subsidy?
1) Rs 3.6 lakh crore will add 1.9% to India’s fiscal deficit, taking it to 5.3% of GDP & immediate downgrade of India by global rating agencies. To avoid that other subsidies amounting to >Rs 3.2 lakh crore will have to go. Take away from left hand, give from right .
2) Those earning< Rs 12,000/month (Rs 1.44 lakh/yr) don’t pay tax or file returns. Identifying them is a logistical nightmare, apart from income manipulation to maximise top-up. Poorly thought through scheme that’ll just switch subsidies & be impractical to enforce
3) Doles create dependencies. BJP copied Cong policy on doles, Cong copying BJP policy on doles with new packaging. Neither addresses real economic reforms: privatisation, low taxes, low tariffs, labour, land & agri reform. Don’t give a man fish, teach him to fish
4) It is just not about one time identifying, what if income goes up after identification and start of benefit. Who would ensure denial or change in subsidy?
