Congress spokesperson Randeep Surjewala clarified that it is not a top-up scheme.
India's main opposition party, the Congress Party, will give 72,000 rupees ($1,045) to each of India's poorest families every year if voted back into power, its chief said on Monday, in what he called a "final assault on poverty". Five crores of the poorest families in India will receive Rs 72,000 per year.
A rough calculation will reveal that 20% of the poorest Indians translate to 5 crore families and with an average of 5 members in each family, this translates to 25 crore Indians, who are living below the poverty line.
"Instead of Amethi, Rahul should go to Pakistan, his real supporters are there", Kashyap said at a public rally here on Monday. Share your comments on our Facebook page.
The Congress announcement may have come too late, some analysts said.
Gandhi, whose father, grandmother and great-grandfather were all prime ministers, has attacked Modi's economic record, accusing him of failing to create jobs for the nation's youth or aid desperate farmers. "Besides subsidies for food, fertilizer, kerosene, 55 ministries handed over subsidies to the poor through the DBT, which was enabled by Aadhaar. Those who have income less than Rs 12,000 we will top up (their income)", he said.
Congress President Rahul Gandhi, facing a tough opponent in Prime Minister Narendra Modi in general elections set for April and May, told reporters the programme would benefit 250 million of a population of 1.3 billion.
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Jaitley said that in 1971, Indira gave her legendary slogan "Garibi Hatao" but her economics was not about increasing production and generating wealth but only about redistribution of poverty.
Sociologist Sarath Davala, who is the vice-chair, Basic Income Earth Network, and coordinator, India Network for Basic Income, is optimistic about implementation of the scheme.
The Congress' scheme, Jaitley added, is an admission "that neither Indiraji nor her son and certainly not the UPA Government controlled by her descendants, was able to remove poverty".
Under his plan, every family would be guaranteed an income of 12,000 rupees (£130) a month, paid into their bank accounts. With support of Rahul Gandhi and Sonia Gandhi we formed government here.
"People have suffered in the last five years".
He added that the party had studied the fiscal implications of the scheme and consulted renowned economists and experts before finalising the scheme.