A Delhi seminar last week discussed what intellectuals see as the next great idea for social revolution: a Universal Basic Income (UBI). Prof Pranab Bardhan proposed a UBI of Rs 10,000 a year as a citizen’s right, to be funded by raising a whopping 10% of GDP by eliminating tax breaks and wasteful subsidies. Prof Vijay Joshi proposed a UBI of Rs 3,500 a year, costing 3.5% of GDP. A finance ministry official presented the UBI proposal discussed in Economic Survey 2017.
Most speakers viewed UBI as desirable, though many thought it was a task for the future. Others worried […]
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