Chennai: P. Chidambaram, Congress leader and former Union Finance Minister, here on Wednesday, said the minimum income guarantee (MIG) scheme, announced by his party, will be implemented in phases, after the Congress comes to power at the Centre.
Chidambaram said the announcement was made after consulting experts who assured that India had the capability to implement such a scheme as the country's gross domestic product (GDP) will increase between 2019 and 2024.
The Nyuntam Aay Yojana (NYAY) intends to directly transfer Rs 72,000 to bank accounts of beneficiaries.
According to Chidambaram, there should be minimum income to eradicate poverty and the scheme can be implemented in a country like India only in phases.
He said about five crore families will be enrolled under the scheme, to be implemented by an expert committee.