New Delhi, Jan 28 (IANS): Terming Rahul Gandhi's promise of a minimum income guarantee historic, former Finance Minister P. Chidambaram here said on Monday the Congress would explain in its election manifesto how it will implement the plan, which will mark a turning point in the lives of the poor.

He said India's poor had the first right on the country's resources and the party would find the resources to implement the Congress president's promise.

Chidambaram's remarks came soon after Gandhi, in a major bid to woo voters ahead of the Lok Sabha elections, promised a minimum income guarantee for every poor person if the Congress is voted to power.

"Congress president Rahul Gandhi's announcement at the farmers' rally in Chhattisgarh is historic and will mark a turning point in the lives of the poor," Chidambaram said in a tweet.

"The principle of Universal Basic Income (UBI) has been discussed extensively in the last two years. The time has come to adapt the principle to our situation and our needs and implement the same for the poor. We will explain our plan in the Congress Manifesto," he added.

The senior Congress leader said that around 140 million people were lifted out of poverty between 2004 and 2014, when the UPA was in power.

"Now we should make a determined effort to wipe out poverty in India. The poor have the first charge on the resources of the country. Congress will find the resources to implement the promise of Rahul Gandhi," he added.