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Poverty Inequality
NYAY e-Symposium: The potential macroeconomic impact of NYAY
Niranjan Rajadhyaksha (Research Director and Senior Fellow at IDFC Institute) contends that the estimated cost of NYAY is substantial and there is ample reason to worry about the fiscal burden of the scheme. Further, the cash infusion in the economy may lead to inflation in the middle term and hence, the real income benefits of the transfer would be reduced.
NYAY e-Symposium: Not long-term solution to poverty but useful ‘first-aid’
Maitreesh Ghatak (Professor of Economics, London School of Economics) contends that a cash transfer, as envisaged by NYAY, will provide some relief and a safety net to the poor living on the margins of subsistence. However, it is not clear how it will deal with the problem of targeting. Moreover, it is not a long-term solution to the problem of poverty, which requires investment in health, education, and skill formation, among other things.
NYAY e-Symposium: Getting targeting right
Karthik Muralidharan (Tata Chancellor's Professor of Economics, University of California, San Diego) recommends targeting the 20% of poorest blocks in the country under NYAY, and making the cash transfers universal or quasi-universal in those areas.
NYAY e-Symposium: Four concerns around cash transfer policies
Bharat Ramswami (Professor of Economics, Ashoka University) discusses four sets of caveats in implementing NYAY as an add-on cash transfer. He contends that the emergence of cash transfers as a sustainable tool of redistribution depends on how they mesh with existing subsidies and if they crowd out public budgets for health and education.
Introduction to e-Symposium: Decoding Congress’ NYAY
A major announcement in the Congress manifesto, in the ongoing parliamentary election, is the minimum income guarantee proposal – Nyuntam Aay Yojana (NYAY). In this symposium, Bharat Ramaswami (Ashoka University), Jean Drèze (Ranchi University), Pranab Bardhan (University of California, Berkeley), S. Subramanian (Indian Council of Social Science Research), Ashwini Kulkarni (Pragati Abhiyan), Karthik Muralidharan (University of California, San Diego), Pronab Sen (International Growth Center), Niranjan Rajadhyaksha (IDFC Institute), and Maitreesh Ghatak (London School of Economics), weigh in on key issues pertaining to the scheme.
Can Rahul Gandhi’s minimum income guarantee proposal work?
Congress president Rahul Gandhi has promised a minimum income guarantee scheme for the poor if the party is voted to power in the upcoming elections. Discussing the proposal and associated concerns, Prof. Maitreesh Ghatak contends that while the idea of building up a social safety net in India is welcome, designing such schemes has to be done with much care.
Cash transfers and adult labour outcomes in developing countries
The basic economic model of labour supply predicts that when an adult receives an unexpected cash windfall they should work less and earn less. This underlies concerns that cash transfers will undermine work ethics and make recipients lazy. In this post, Baird et al. discuss how missing markets, price effects, and dynamic and general equilibrium effects can make this intuition misleading in low- and middle-income countries.
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