Modi all set to extend welfare program to 50 crore workers as he bids for re election in 2019

Updated:  Jun 04, 2018, 10:05 AM

Lok Sabha Elections 2019 BJP

To win the heart of the voters Prime Minister Modi is all set to extend a welfare program to India’s 50 crore workers, he also aims to provide old age pension, life insurance and maternity benefits.

The plan will be one of the largest mass benefit programs in the country of  and comes after the February announcement of a health protection plan targeted to cover 100 million poor families, dubbed as  ‘ Modicare’. The move is expected to have a dual impact on the economy. Higher social spending would add to fiscal stress and limit the scope for infrastructural development. But by giving benefits mostly to informal workers who contribute to about half of the country’s GDP, it would enhance the quality of life and raise productivity. It will help reduce poverty in a country that’s home to a third of the world’s poor and still spends less than 2 percent of its GDP on social security. More than 90 percent of India’s workforce is in informal employment and without any social protection.

 



We welcome your comments at [email protected]