Addressing the media after the Congress Working Committee meeting, party president Rahul Gandhi said they will provide Rs. 72,000 per annum to the poorest families, if voted to power.
The scheme is named as NYAY or Nyuntam Aay Yojana. Mr. Gandhi had been talking about a minimum income guarantee for a while.
Mr. Gandhi said every household will be assured of Rs. 12,000 per month. The scheme will cover 20 percent of poorest families. If a family earns, say, Rs. 6000 per month, the remaining Rs.6,000 will be paid to them.
"Minimum income threshold is Rs 12,000. Any family earning less than this, the government will pay the difference," Mr. Gandhi said.
He said the scheme was “extremely powerful, dynamic, a well-thought-through idea”. It will be the world’s largest minimum income scheme, Gandhi said. “Final assault on poverty has begun. We will wipe out poverty from the country,” he said.
“It is fiscally possible,” said Gandhi. “We have been studying the scheme for four-five months. We were committed to the MGNREGA, we delivered MGNREGA...now we will ensure justice for the poor.”
"It is not acceptable to the Congress that there are poor people in the 21st century... The final assault on poverty is beginning," he added.