Does Trump look to India for inspiration? His $1000 for newborns scheme hints so
India Today
Does President Trump look towards India's ideas and schemes for inspiration? The US started a $1,000 scheme for newborns. Five Indian states have such a scheme, with Tamil Nadu starting it in the 90s. Not just that, Trump's ideas of MAGA and being "God's chosen one" also seem to be from PM Modi's book.
The Trump administration this week launched a scheme aimed at newborns. The 530A account programme, dubbed Trump Accounts, was unveiled with much fanfare at a US Treasury event, offers a $1,000 seed fund to every newborn US citizen to be invested in low-cost funds that can only be accessed when the child turns 18 years of age.
Setting aside the pros and cons of the scheme, one aspect has largely gone unnoticed, the Trump Accounts are far from novel. At least five Indian states run similar programmes, with Tamil Nadu introducing one as early as 1992.
The scheme adds to growing evidence that Trump and his administration draw inspiration from India's concepts and ideas. For example, Trump's Make America Great Again echoes India's target of becoming Vishwaguru.
So what exactly are Trump Accounts, how closely do they mirror Indian state schemes, and where else does MAGA appear to have borrowed from Indian welfare policies, and India and Prime Minister Narendra Modi?
The Trump Account, according to the US Treasury Department, is a tax-advantaged investment account federal programme created under the One Big Beautiful Bill Act (OBBBA) for the express purpose of giving every eligible American child a financial head start at birth and making them less reliant on financial assistance.
Under this scheme, the federal government will deposit a one-time $1,000 seed fund into the accounts of every US child born between January 1, 2025 and December 28, 2028, so long as the child has a Social Security number and is a US citizen.
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