Category: Basic Income

Kiosked Even as the NITI Aayog has said India does not have necessary financial resources for the project, the government’s Economic Survey 2016-17 advocated a Universal Basic Income (UBI) scheme as an alternative poverty reduction mechanism in place of various ongoing social welfare programmes. UBI guarantees a minimum income to every citizen.

The Economic Survey, authored by Chief Economic Advisor Arvind Subramanian and tabled in Parliament on the first day of the Budget Session on Tuesday, pitched for a scheme to transfer a reasonable basic income to Indians below the poverty line based on a survey on misallocation of resources […]

Full Post at www.thehansindia.com

World Basic Income claims to be a "new practical solution to global inequality and poverty" . The idea is that every person in the world, whatever their circumstances and no matter where they live, would be given money regularly in addition to what they earn at work or receive in state benefits.

The funding would come from, what the organisation World Basic Income (WBI) describes as, " harvesting a share of the wealth that our ancestors have built up over the centuries, and that the earth yields now ". With the world producing total wealth of $76trillion a year , […]

Full Post at www.salfordstar.com

Photo: Shutterstock The Economic Survey 2016-17 released on Tuesday makes a strong case for a universal basic income, in place of the current subsidy regime. “ UBI is a powerful idea whose time, even if not ripe for implementation, is ripe for serious discussion,” it said.

For 2016-17, the Survey estimates UBI at Rs 7,620 per year per person. This is the amount needed to lift the poor above the poverty line of Rs 893 per person per month computed by the Suresh Tendulkar committee.

In 2011-12, the last year for which consumption data are available from national sample surveys, UBI […]

Full Post at www.business-standard.com

File photo of people waiting to get ration from a Public Distribution System outlet in village Khedla, Haryana Providing a Universal Basic Income to 75% of the population could require 5% of the GDP, while subsidies to the middle class already cost 3% of GDP, says the Economic Survey 2016-17

Positioning Universal Basic Income as an alternative to various social welfare schemes in a bid to reduce poverty, the Economic Survey today said UBI is a "powerful idea" whose time has come for serious discussion.

"The UBI is a powerful idea whose time even if not ripe for implementation is […]

Full Post at www.nationalheraldindia.com

The Survey estimated that a UBI that reduces poverty to 0.5 per cent would cost 4-5 per cent of GDP, assuming that those in the top 25 per cent income bracket are not part of the loop. nvoking Mahatma Gandhi’s vision of "wiping every tear from every eye", the Economic Survey today made a strong pitch for implementing Universal Basic Income (UBI) that stipulates a certain income for the poor. I

"UBI is a powerful idea whose time, even if not ripe for implementation, is ripe for serious discussion," said the Economic Survey for 2016-17, which was tabled in Parliament […]

Full Post at uswww.rediff.com

The Economic Survey made a strong pitch for Universal Basic Income and though not ripe for implementation, it is up for discussion. Let’s take a look at the pros and cons behind what could be India’s next grand financial plan

The words Universal Basic Income (UBI) have been thrown at us in many discussions related to finance. Apart from sounding similar to a lot of schemes existing in India like Unique Identification Number (UIN), not many are aware of what it is. There are rumours it might figure in the annual budget of 2017 but before that let’s take […]

Full Post at newsable.asianetnews.tv

Making a point Chief Economic Advisor Arvind Subramanian addressing a press conference after tabling the Survey in Parliament on Tuesday ‘The proposal is an alternative to subsidies for poverty alleviation’

New Delhi, January 31:

Terming the proposal for a Universal Basic Income (UBI) as a “radical idea”, Chief Economic Advisor to the Finance Ministry Arvind Subramanian said the Survey is not advocating its immediate implementation. However, he was not averse to a pilot study being conducted.“The Survey is saying that UBI is a very new compelling idea. It has a lot of challenges. But, it is an idea whose time is […]

Full Post at www.thehindubusinessline.com

The Economic Survey makes a case for replacing India’s many direct and indirect subsidies for the poor with one Universal Basic Income (UBI) scheme. This idea, being tossed about by academics and policymakers recently, proposes a lumpsum income transfer, calculated according to poverty lines or any other criterion, to be handed over unconditionally, to anyone who qualifies for these grants. It is an appealing thought, but alas, inapplicable in India. The virtues and vices of UBI schemes have been debated for decades. Its detractors argue that a scheme that guarantees a basic income could reduce work effort: by as […]

Full Post at blogs.economictimes.indiatimes.com

"The UBI must be embraced in a deliberate, phased manner as it allows reform to occur incrementally — weighing the costs and benefits at every step." The Economic Survey has proposed a Universal Basic Income (UBI) that ensures every citizen has a right to a minimum income to cover their basic needs as a long-term solution to reduce poverty in the country.

“The UBI must be embraced in a deliberate, phased manner as it allows reform to occur incrementally — weighing the costs and benefits at every step,” said the Economic Survey 2016-17 tabled by finance minister Arun Jaitley in […]

Full Post at economictimes.indiatimes.com