Congress' NYAY not a UBI or dole, but a poverty alleviation scheme: Rajan

Former Reserve Bank of India governor Raghuram Rajan has defended the Congress Party’s pre-election proposal NYAY as a poverty alleviation programme. He was speaking on Monday at the University of Toronto’s Rotman School of Management at an event to promote his latest book, The Third Pillar: How Markets And The State Leave The Community Behind.

Rajan was among those who advised the Congress on its scheme guaranteeing a minimum annual income of Rs 72,000 to 20 per cent of India’s poorest families. Answering a question from Business Standard in Toronto, Rajan said, “It’s not Universal Basic Income, which means giving