Universal basic income (UBI) differs from the social security schemes in western nations. It has three distinguishing characteristics. First, it is universal and not targeted. It is for each and every citizen, regardless of their current income status. Second, it involves a cash transfer instead of an in-kind transfer. This means that a fixed amount of funds is credited to the citizens’ account on a particular day every month. Third, it is unconditional. It is like a monthly salary for which you did not work. This is available to the employed and the unemployed. The scheme covers people from […]
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