Days after Congress President Rahul Gandhi announced Congress’ minimum income guarantee scheme there is still no clarity over how exactly will the party implement the scheme if voted to power. Not just that, Congress President Rahul Gandhi himself continues to give confusing figures every other day. From Rs 72,000 per year to Rs 72,000 per month to Rs 72,000 crore per year, the Gandhi scion has made everyone dizzy with confusing mathematics.
However, it seems to have dawned upon the middle class that at the end of it, things may not be all bright and cheery if Congress does come to power and chooses to implement the scheme.
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Finance Minister Arun Jaitley has faced the wrath of the quintessential middle-class during the implementation of demonetisation and GST. However, despite the hardships people may have faced in the initial days, people are ready to overlook it if it means new taxes to fund the Rs 3,60,000 crore annually for the minimum income guarantee programme.
The ‘free money’ funded by newer tax schemes has not gone down too well with people.
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As the user pointed out, Rahul Gandhi’s economic advisor who suggested the ambitious scheme himself said that without an increase in taxes, it will not be possible to implement the minimum income scheme. That means, not just income tax, but even indirect taxes would be changed and increased to accommodate Rahul Gandhi’s ‘free money’ scheme.
To put things in perspective, if Congress is voted to power and this could mean 70% taxation and an inflation rate of 12%, more or less.
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Moreover, there doesn’t appear to be any agreement on the matter within the Congress party itself. While Rahul Gandhi says one thing, the chairperson of Data Analytics Department of the Congress party, Praveen Chakravarty, says something entirely the opposite. It appears there’s significant confusion within the Congress party itself on how it will be implemented.
One thing is for certain. Should the Congress come to power and the scheme, in whatever form, does get implemented, the greatest sufferers will be the middle class. The poor, too, will suffer as infrastructure will crumble and the cost of living will shoot up.