NYAY: Confusing, yet Impressive
Not before anything like NYAY has been proposed in India. So, when Congress President Rahul Gandhi has proposed the scheme, which guarantees to provide minimum income to every poor family in India, many have come forward with appreciation. But, soon, that appreciation has turned into a huge confusion. The biggest confusion has been from where the congress will find fund for their expensive scheme. That has even prompted many to dismiss the scheme as a political sham. It has been the saffron leaders who have put effort to carry the narrative towards that direction.
Today, a senior Union Minister has openly levelled the same question against the Congress: ‘from where the Congress will raise the fund required to run such an expensive scheme’. He is of the opinion that the fear of failure is what that prompts the Grand Old Party to come up with such impractical, yet impressive, schemes.
An economic expert has recently said that he had five important concerns about the NYAY scheme. His first concern is that ‘ultimately, free money is free money’. His other concerns are: ‘free money usually increases inflation’; ‘free money normally encourages to spend more on bad goods such as alcohol and cigarettes’; ‘free money discourage the habit of hard work’; and ‘free money increases tax’.
The proponents of the concern theories should not forget that the minimum guaranteed national income is not the only way through which free money is granted and even inheritance is, in a way, free money.
Vignesh. S. G
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