Finland Announces Universal Basic Income. Unemployed To Be Payed Rs 40,000 A Month

Finland Announces Universal Basic Income. Unemployed To Be Payed Rs 40,000 A Month

Basic income is an idea to provide residents of a country with regular unconditional fixed amount of money. This can either be from the government or some other public institution, in addition to income received from other sources.

The concept of Universal Basic Income (UBI) is not a new one. Economists have debated it since 1797 when Thomas Paine proposed the idea. Since then, it has been experimented with in varying degrees by many regions and states in Scotland, Canada, Kenya, Uganda, and India. But never on a national level.

Finland began the first national UBI program on 1 January 2017. […]

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