financetom
Economy
financetom
/
Economy
/
Lok Sabha Elections 2019: Here is a list of all the promises that the Congress has made to take on PM Modi
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Lok Sabha Elections 2019: Here is a list of all the promises that the Congress has made to take on PM Modi
Apr 1, 2019 9:34 AM

From a monthly dole for the poor to jobs quota for women, the opposition Congress party is making one promise after another in a bid to oust Prime Minister Narendra Modi in a multi-phase general election that starts next week.

Modi's ruling Bharatiya Janata Party (BJP) has also weighed measures to woo farmers, small business owners and those who are less well-off.

Here are the main promises made by Congress, which will release its election manifesto on Tuesday.

"Assault On Poverty"

Congress will give Rs 72,000 ($1,038) to each India's poorest families every year if voted back to power, its president Rahul Gandhi said last week, calling the move a "final assault on poverty".

The programme, to be implemented in phases, would benefit 250 million of a population of 1.3 billion, Gandhi said.

The BJP has called the announcement a gimmick while some economists have called it fiscally irresponsible.

Jobs

Gandhi says there are 2.2 million vacant government jobs and that Congress will fill them by March 31, 2020, if voted back to power.

Women Empowerment

The party has promised to reserve a third of federal government jobs for women and push through the long-pending Women’s Reservation Bill, which provides for 33 percent of seats in national and state assemblies to be reserved for women.

Healthcare

Congress has promised to more than double healthcare spending to 3 percent of GDP by 2024, provide free diagnostics and medicines through public hospitals, set up more medical colleges and give financial support to medical students.

Education

It has promised to boost spending on education to 6 percent of GDP by 2023-24, up from an estimated 2.7 percent in 2018.

Removing Redtape

Gandhi has said he will relax rules for new businesses and offer tax incentives to firms in order to create jobs if he comes to power.

New businesses would not need any government permissions in the first three years of operations. Congress would scrap taxes on investors in new businesses and make bank loans easier.

GST

Congress has promised to reform the goods and services tax into a "simple and minimum tax".

First Published:Apr 1, 2019 6:34 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US junk debt investors cautious of leveraged loans as economy slows
US junk debt investors cautious of leveraged loans as economy slows
Aug 14, 2024
(Reuters) - Leveraged loan deals are expected to pick back up after a stabilization in markets over the past week, although some investors say they are cautious about junk-rated loans if the economy weakens. Borrowers pulled back on leveraged loan deals last week, following disappointing jobs data on Aug. 1 and Aug. 2 that raised forecasts for aggressive interest rate...
US consumer prices increase as expected in July
US consumer prices increase as expected in July
Aug 14, 2024
WASHINGTON (Reuters) - U.S. consumer prices rebounded as expected in July, but the trend remained consistent with subsiding inflation and did not change expectations that the Federal Reserve will cut interest rates next month. The consumer price index increased 0.2% last month after falling 0.1% in June, the Labor Department's Bureau of Labor Statistics said on Wednesday. In the 12...
US Dollar Rises Early Wednesday as Markets Prepare for Consumer Price Data
US Dollar Rises Early Wednesday as Markets Prepare for Consumer Price Data
Aug 14, 2024
07:57 AM EDT, 08/14/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Wednesday, except for a decline versus the euro, before the release of consumer price data for July at 8:30 am ET, the first major release since the Aug. 2 employment report that raised hopes of an interest rate reduction in September. Analysts expect...
July Inflation Rate Falls More Than Expected, Supports Hopes For Large Fed Rate Cuts
July Inflation Rate Falls More Than Expected, Supports Hopes For Large Fed Rate Cuts
Aug 14, 2024
The Consumer Price Index (CPI) saw a cooler-than-anticipated annual headline print in July, continuing the disinflationary trend and supporting market hopes for large interest rate cuts by the Federal Reserve. In July, the average price increase for a basket of goods and services tracked by official statistics reached 2.9% year-over-year, slightly below economist forecasts of 3%. This latest inflation reading...
Copyright 2023-2025 - www.financetom.com All Rights Reserved