NEW DELHI — With nearly 300 million people in a population of 1.3 billion continuing to live in extreme poverty, India is considering giving a small fixed income to its citizens each month in lieu of the current plethora of subsidies and social welfare schemes.
A finance ministry annual survey released ahead of the annual budget last week featured a chapter on universal basic income (UBI), a concept "whose time has come perhaps not for immediate implementation but at least for serious public deliberation."
Authored by Chief Economic Adviser Arvind Subramanian, the survey calculates that annual UBI of 7,620 rupees ($113) […]
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