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Government planning to deduct part of subsidies and hand it over to beneficiaries to boost demand

News:

  • Government chalks out a plan for income transfers – total subsidy to a household as basic income to the beneficiary through Jan Dhan and Aadhaar platform and the project to be rolled out on pilot basis in districts where there is surplus basis.
  • It will help create demand for other goods and services and subsidy pilferage will stop.
  • The latest proposal is aimed at deepening financial inclusion by offering a basic income to the poor consumer and thereby boosting demand in an economy where the signs of growth are still feeble.
  • Government has budgeted a subsidy of Rs 2.44 lakh crore in current fiscal.

Source: ET

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