Ever since Arvind Subramanian confirmed that the idea of universal basic income (UBI) would make its way into the upcoming Economic Survey back in September, speculation has been rife on its possible implementation in this year’s budget . UBI proposes to make unconditional cash transfers to all on an individual basis. In the context of the developing world, the basic premise of UBI is that, in a modern civilised society, it is unacceptable that a person is unable to fulfill his basic needs simply because he cannot find a job. It is one of those rare concepts where economists […]
Full Post at www.firstpost.com