INTRODUCTION TO UNIVERSAL BASIC INCOME (UBI) Economic Survey 2016-17 : UBI was proposed as a solution to poverty and income inequality.
Fiscal Challenge : A direct cash transfer of Rs 7,260 per person was estimated to cost 4.9% of GDP, making it a daunting fiscal challenge.
DIRECT BENEFIT TRANSFER (DBT) AS A PRECURSOR TO UBI Launch of DBT : Introduced in January 2013, DBT aims to reduce leakage, ensure timely transfers, and promote financial inclusion. JAM Trinity : Jan Dhan accounts, Aadhaar, and Mobile phones enable DBT’s success. Current Reach : Over 315 schemes across 53 ministries, disbursing Rs […]
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