Outlandish
Like I said on my original post, regarding the 1930 fleet program, there was no money even for half that program, so a Carrier was impossible.
But there could be a few ASB ways to get one.
regarding the "less crazy" Essex SCB-125 one, the ship would have been a trade off for the (use of bases in the) Azores, the manning issues are way less relevant in a country with 2 to 3 years mandatory military service (In the navy it was longer, and people were paid almost nothing for the duration) and with (at the time), a large merchant/Fishing fleet. This would still mean that the navy would get all the money, with the Army becoming de facto a ligh COIN force.
Basically the carriers only use would be as a "force in being" to try to dissuade India from attacking Goa, and if they did attack it would to be used in a Tom Clancy like level of credibility. It could be loaded only with fighter bombers, and provided it was not sunk by a submarine it would be able to meet incoming raids with a sreen of a few dozen FJ-4 Fury's. Giving that the IAF was still evolving in 1961, It could be fun seing the Fury's mixing it with Vampires, Ouragans and the freshly arrived Hunters. If we want to go really wild, we could give the portuguese Essex (Called, of course, the Vasco da Gama) a F8 Crusader Air Group, and then the Indians would really be in trouble...
It's ASB, but fun...