On Nov. 8, 2016, financial assets in India faced the possibility of losing their values completely. This potential instability, along with the ongoing failures of India’s current welfare programs, has pushed the government to consider alternative methods for economic stability. Thus, the government introduced the idea of a universal basic income (UBI).
By replacing India’s current welfare programs with a universal income, families, rich or poor, could receive monthly stipends of equal amounts . The economic survey conducted on a UBI plan proposes a monthly stipend of 893 rupees ($13) per month, amounting to 7,620 rupees ($112) per person each […]
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