ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Income RedistributionSubscribe to Income Redistribution

Income Support Schemes

The PM KISAN scheme provides `6,000 to farmers to procure inputs and other household needs. The scheme is criticised for providing too little support. Features of various income support schemes are compared. Mukhyamantri Krishi Aashirwad, Mukhyamantri Parivar Samman Nidhi and Krushak Assistance for Livelihood and Income Augmentation scheme have income redistributive feature across land size class. Schemes like KALIA, MPSN and Rythu Bandhu support tenant and agricultural labourers. In West Bengal, having Krishak Bandhu along with PM KISAN would have greatly helped farmers to absorb risk in farming.

Tobin Tax Revisited

With growing evidence that foreign aid is effective when combined with good domestic economic policies, the global political environment may become less hostile to using global taxation as a way of bringing about global income redistribution aimed at poverty reduction. To use the revenue from a currency transaction tax to augment multilateral aid flows would, in these circumstances, have the appeal of assisting countries that are largely bypassed by private international capital markets. Thus, a policy directed towards offsetting the inefficiencies of markets could also be used to mitigate inequity, i e, a global tax for global purposes.
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