Category: Basic Income

New Delhi: The Indian economy has weathered the impact of demonetisation and volatility caused by the US elections well, but high oil prices, trade tension, resurgence of protectionism abd slowdon in exports are some of the serious challenges to the growth of economy, said the Chief Economic Advisor Arwind Subramanian in a press conference post the Economic Survey.

Speaking on the universal basic income scheme, he said that an unconditional and uniform cash transfer from the government targeted at poor is likely to cost around 5 percent of GDP.

Subramanian said that the scheme has already been tested as a pilot […]

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Credit to Business Insider

According to Chris Weller from Business Insider , Sam Altman, President of Y Combinator (the largest startup accelerator in Silicon Valley), recently voiced some of his doubts regarding people replacing their current work with other meaningful work or activities if given a basic income.

Weller reports Altman puts faith in the provision of free money to make people both healthier and happier, but isn’t betting everything on it.According to Weller, Altman, and other Y Combinator researchers, will implement an experiment in 2017, located in Oakland, California. It will give 100 families $2,000 per month. It is to […]

Full Post at basicincome.org

Economic Survey 2016-17 talks about the need to introduce Universal Basic Income (UBI) scheme in the country. This would replace the existing subsidy-based poverty alleviation programmes of the country. Justifying the need for UBI, the Economic Survey 2016-17 says, "India needs an evolution in the underlying economic vision across the political spectrum and further reforms are not just a matter of overcoming vested interests that obstruct them." Union Finance Minister Arun Jaitley tabled the Economic Survey 2016-17 in Parliament today. The survey listed some of the challenges that might impede India?s progress. These were: "ambivalence about property rights and […]

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New Delhi: Providing a cash allowance rather than cheap food or guaranteed jobs would nearly eradicate poverty, but at a cost of 4 to 5 per cent of gross domestic product, a government report said on Tuesday.

Universal basic income (UBI) , a radical idea that is gaining attention in countries such as Finland and France, proposes giving every citizen an income to cover their basic needs.

Several economists advocate cash transfers in India, Asia’s third-largest economy, where despite rapid economic growth, one in three of the world’s extreme poor reside. An emergency medical payment or bad harvest risks a […]

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After Brexit and the election of Donald Trump, all eyes are on France for another populist upset, with Marine Le Pen rising in the polls ahead of the country’s upcoming presidential election. The growing popularity of the leader of the far-right, anti-immigration, anti-EU National Front party is in keeping with of politics recently.

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Full Post at qz.com

New Delhi: The Economic Survey 2016-17 presented in Parliament on Tuesday projected the economy to grow in the range of 6.75% to 7.25% in the next fiscal year 2017-18 in the post-demonetisation year.

The statistics department has projected the economy to grow at 7.1% in 2016-17 without taking into account the impact of demonetization while the International Monetary Fund has pared down its growth projection for India to 6.6% in 2016-17 and 7.2% in 2017-18.

The survey prepared by Chief Economic Adviser in the finance ministry Arvind Subramanian said the adverse impact of demonetisation on GDP growth will be transitional. “Once […]

Full Post at www.all-the-news.com

The Survey advocated the concept of UBI, positing it as an alternative to various social welfare schemes currently running in the country. The survey analysed the costs and benefits of such a scheme and said that it is a “conceptually appealing idea” but with a number of implementation challenges.

The Survey said that UBI should be based on the principles of universality, unconditionality and agency.

It concluded that a more efficient way to help the poor would be to provide them with resources directly through UBI as opposed to allocating resources to various Centre- and state-run schemes where misallocation is a […]

Full Post at www.bloombergquint.com

By Press Information Bureau (PIB)

The Economic Survey projects the GDP growth in 2017-18 to be between 6.75 per cent to 7.5 per cent post-demonetisation. For the current fiscal, the growth is projected to fall to 7.1 per cent from 7.6 per cent last fiscal.

Good fiscal performance by States should be incentivised to keep the overall fiscal performance on track The Survey has highlighted the need for fiscal prudence both by the Centre as well as the States in order to maintain overall fiscal health of the economy.It elaborates that as the fiscal challenges mount for the states […]

Full Post at swarajyamag.com

According to the Economic Survey, the indirect taxes grew at 26.9% during April-November 2016. And while the government spent a lot on the implementation of the 7th Pay Commission recommendations, the overall revenue was robust. (AP) Economic Survey 2017: Finance Minister Arun Jaitley today tabled the Modi government’s Economic Survey for 2016-2017. And while along expected lines the survey talks about economic growth, and macro level indicators and paints a picture for trends in growth, you would wonder why all the jargon should interest you as the common man. Here we decode some interesting aspects of India’s report card […]

Full Post at www.financialexpress.com