Former RBI governor Raghuram Rajan decodes NYAY scheme

Former RBI governor Raghuram Rajan thinks the minimum income guarantee scheme proposed by the Congress is good in theory but needs to talk into account the fiscal realities of India.

While Raghuram Rajan agreed that the NYAY scheme announced by Congress will promote growth at the grassroots level, he remained sceptical about whether the Indian economy can afford such a scheme.