Do you think Rahul Gandhi will be able to fulfil his promise of increasing the education budget to 6- of GDP?

Congress President Rahul Gandhi also promised that if his party comes to power, they will give the poorest 20 percent families in the country a minimum income guarantee of Rs 6,000 per month. That is, Rs 72,000 per annum for free to any family earning less than Rs 12,000 a month.

Much similar to the Universal Basic Income, this Congress proposed scheme is named "Nyunatam Aaya Yojna" (NYAY).

(Courtesy: Business Insider)

Calling it the "final assault on poverty", Rahul said, "it is fiscally possible. We have done all the calculations, asked the best economists, they all backed us. We have been studying the scheme for four-five months."

Foremost, a scheme of this magnitude which will impact 5 crore Indian households seems quite infeasible to implement. Per reports, it could add 1.9 percent of GDP to India's already not-so-good fiscal deficit.

Honestly, it's very unlikely that a scheme like this of massive subsidy will ever come into effect in India. For an emerging economy as us, it could have massive repercussion on the inflation rate, and hence the unemployment rate. And we're already seeing 45-year high unemployment rate at the moment.

Besides, I fundamentally believe that instead of handing over money to people in their banks, the government, whichever it is, should focus on the structural improvement.

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Instead of focusing on how much money the bottom population of the country requires, the major question should be why so many people are there at the bottom in the first place.

Why, even today, so many families in India do not make Rs 12,000 a month? Why there are so many poor people? Why people need such subsidies in the first place?

These questions must be addressed. The solutions must be worked from the ground up that strengthens the core of our economy and NOT just build a high but hollow wall.

Rs 6,000 per month, aside from providing temporary relief to the lowest section, will have no long-term benefit. Inflation will catch up. A huge heft on the deficit will damage economic growth.

On the contrary though, to your question, I am all for the government spending 6 percent of GDP on education.

I think it's important that the country spends more on education, and also on healthcare. These two are the pillar of flourishing society. A country that's educated knows how to take care of itself, make more income, and live happily. It not only has a positive economic effect but can also influence the social front tremendously.

All these said though, the major question comes: will Congress bring such schemes when it is power? Can they do it? Will they bring Nyunatam Aaya Yojna? Will they spend 6 percent of GDP on education?

(Courtesy: Election Tamasha)

A sweet and simple answer is: LIKELY NOT!

With General Election 2019 so close, it's "promise time" for the politicians. They will say anything and everything to appease the voters.

So, these announcements from Congress President Rahul Gandhi are no more than hollow promises -- a reminisce of PM Narendra Modi and how he rolled ahead of General Election 2014. (The country is still waiting for Rs 15 lakh in bank accounts!)

You will hear more of such unrealistic promises, announcements, and jumlas from Congress, as well as BJP leaders in the coming days -- from Rahul Gandhi to PM Modi.

Don't forget, only recently, the Modi government implemented PM Kisan plan that promises Rs 6,000 a year to about 12.5 crore small and marginal farmers. How successful has been its implementation to date, no one knows.

Just look at the track record. How many promises have been made all these years… and how many have been successfully implemented when those political parties came into power. You will get your answer.