Senior advocate Prashant Bhushan on Tuesday, January 29 said that the Minimum Income Guarantee scheme proposed by Congress party president Rahul Gandhi could be a “game changer” for India.
In consecutive tweets, Bhushan suggested ways of providing Minimum Income Guarantee and how funds could be routed for the same. He said that it could be done by extending MNREGA to all adults for 150 days a year (instead of the current 100 days a year for adults in rural areas only). He also said that universal pension for the elderly at half of minimum wages could be provides.
We calculated that funds for this virtually minimum income guarantee scheme could be raised by removing corporate exemptions, removing some existing wasteful subsidies, imposing a wealth tax of 1-2% on the wealthy, and 20% inheritance tax and gift tax.Would create a welfare State
— Prashant Bhushan (@pbhushan1) January 29, 2019
Bhushan said that a combination of removing corporate exemptions, certain existing “wasteful subsidies”, imposing a wealth tax of 1-2 per cent and a inheritance and gift tax of 20 per cent would provide the required funds for the scheme. He added that this would create a welfare state.
Also Read: Rahul Gandhi Promises Minimum Income Guarantee to Poor If Congress Returns to Power