Releasing its Fiscal Monitor report on Wednesday, the IMF noted that while global inequality had fallen, especially due to rapid growth of China and India, inequality within countries has increased in large economies – US, India and China.
For India, the IMF said Universal Basic Income (UBI) could be an alternative to the existing system of state subsidies, which are typically characterized as fraught with inefficiencies and inequities. It made a strong case for India adopting a fiscally neutral UBI by eliminating both food and fuel subsidies.
Politically, it opens a new window of opportunity for Narendra Modi government to win […]
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