Indian National Congress pledges to re-set economic policy in its manifesto
₹1 lakh annually in cash transfers to the poor, and address the twin challenges of joblessness and inflation. A ‘Mahalakshmi scheme’ – the centrepiece of a broad five-year programme of social justice -- will provide ₹1 lakh per year to every poor Indian family as an unconditional cash transfer, India's main party of Opposition said in its manifesto, 'Nyay Patra', launched on Friday.
It also vowed to abolish the Agnipath military recruitment scheme, a short-term military recruitment scheme. The seven-phase election starts on 19 April, with vote counting taking place on 4 June.
Under the Mahalakshmi scheme, the poor, especially families at the bottom of the income pyramid, will be identified, and the amount transferred directly to the bank account of the oldest woman in the household, the manifesto said. The INC has also proposed to reform the Production-Linked Incentive (PLI) Scheme and link it to job creation -- so that specific sectors can generate employment by making India one of the top five manufacturing centres.
In addition, it would introduce a new employment-linked incentive scheme for corporates to encourage additional hiring. Although India remains the fastest-growing major economy – amid a slowdown in global growth -- the Mallikarjun Kharge-led Congress party has been raising the problem of jobless growth as it takes on the ruling Bharatiya Janata Party (BJP) in the run-up to the polls.
The economic policy of the Congress is based on three major principles – work, wealth and welfare. India's grand old party hopes these will propel the Indian economy to greater heights through a jobs-led growth trajectory while pushing the country to become a manufacturing powerhouse that produces goods and services for itself
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