Chennai: Senior Congress leader P Chidambaram said on Wednesday that the party’s minimum guaranteed income scheme will be rolled out in phases.
In the first phase five crore beneficiary families will be covered, he said.
Addressing media here the former Finance Minister said enough economists and experts in the subject were consulted and they broadly agreed that India has capacity to implement the scheme.
Chidambaram said the allocation for the scheme is expected to constitute 1.8 per cent of the GDP. The former Finance Minister said the former RBI Governor Raghuram Rajan was of the view that the implementation of the scheme is possible.
The senior party leader said the scheme has to be tested in the field before being rolled out. An expert committee will be set up for the implementation of the scheme. It will design it at every stage and a committee will be consulted before moving to next stage, he added.