A universal basic income is an income unconditionally granted to all on an individual basis, without means test or work requirement.
According to the Basic Income Earth Network, a Universal Basic Income (UBI) is a “form of social security in which all citizens or residents of a country regularly receive an unconditional sum of money”. It is based on the principles of universality and unconditionality.
Arguments in favour of UBI: Promote social justice – reduce inequality through income redistribution. Thrust to financial inclusion – as more people will use banking facilities to access monthly UBI deposits. Better targeting – plug […]
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