(Credit to: THe Freepress Journal) Anjit Ranade, senior economist based in Mumbai, writes in The Free Press Journal that a direct universal cash benefit “can replace ill-targeted subsidies on cooking gas, fertiliser and food grain,” under India’s current welfare system.
4.2% of India’s Gross Domestic Product (GDP) is spent on subsidies: electricity, fertilizer, food, oil, rail, and water. Many of the subsidies do not make their way to the purported beneficiaries because they are untargeted. Ranade reports, targeted subsidies can use the subsidies better.
Vijay Roshi , Reader in Economics at Oxford University, is an early supporter of UBI for […]
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