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The Economic Survey makes a case for replacing India’s many direct and indirect subsidies for the poor with one Universal Basic Income (UBI) scheme. This idea, being tossed about by academics and policymakers recently, proposes a lumpsum income transfer, calculated according to poverty lines or any other criterion, to be handed over unconditionally, to anyone who qualifies for these grants. It is an appealing thought, but alas, inapplicable in India. The virtues and vices of UBI schemes have been debated for decades. Its detractors argue that a scheme that guarantees a basic income could reduce work effort: by as […]

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01.02.2017 0 15 kez okundu Prime Minister Narendra Modi shocked his country and the world in November 2016 by announcing that he would fight corruption by rendering 86 percent of the country’s currency worthless. The decision wreaked havoc with India’s economy for several months, but Subramanian believes that the worst is over, now that plans for a remonetisation are in place.

“Briefly, the costs include a contraction in cash money supply and subsequent, albeit temporary, slowdown in GDP growth; and benefits include increased digitalization, greater tax compliance and a reduction in real estate prices, which could increase long-run tax revenue […]

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Money, money, money. Must be funny. It’s a rich man’s world. Aki asked , “What are your thoughts on universal basic income?”

We could start with the definition of “universal basic income” (UBI) which the Wiki says is “a form of social security in which all citizens or residents of a country regularly receive an unconditional sum of money, either from a government or some other public institution, in addition to any income received from elsewhere.” Income

Let’s also understand what the word “income” means and implies. The dictionary defines it (in part) as “a gain or benefit usually measured […]

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An Indian customer holds a twenty rupee note at a food stall in New Delhi The Indian government has endorsed universal basic income (UBI) in an annual report.

UBI is a “powerful idea” and would be more effective at combating poverty than existing state benefits, according to the country’s 2016-2017 Economic Survey.

However if it were implemented now political challenges could "derail" UBI before it got off the ground, the survey found, suggesting the country is not yet ready for the scheme.Introducing UBI, which would cost India around 4 to 5 per cent of its gross domestic product, is not expected […]

Full Post at www.independent.co.uk

FILE – A homeless Indian reads the newspaper before sunrise in the old city area of New Delhi, India, Wednesday, Feb. 11, 2015. Some 800 million people in the country live in poverty, many of them migrating to big cities in search of a livelihood. NEW DELHI —

In India, the government has unveiled a radical proposal to eliminate poverty – providing a universal basic income for all its citizens, while stressing that this is only a concept.

The idea was floated in the country’s just-released annual economic survey that said guaranteeing a stipend to cover every individual’s basic needs would […]

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The Survey invoked Mahatma Gandhi’s vision of “wiping every tear from every eye”

If the Economic Survey gives any indication of the direction of the next year’s budget could be, it is the concept of Universal Basic Income (UBI) stipulating certain income for the poor.

The Survey invoked Mahatma Gandhi’s vision of “wiping every tear from every eye” and said: “UBI is a powerful idea whose time, even if not ripe for implementation, is ripe for serious discussion.”Stating that the Mahatma would have anxiety about UBI as being just another add-on government programme, but on balance may have given the […]

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Kiosked Even as the NITI Aayog has said India does not have necessary financial resources for the project, the government’s Economic Survey 2016-17 advocated a Universal Basic Income (UBI) scheme as an alternative poverty reduction mechanism in place of various ongoing social welfare programmes. UBI guarantees a minimum income to every citizen.

The Economic Survey, authored by Chief Economic Advisor Arvind Subramanian and tabled in Parliament on the first day of the Budget Session on Tuesday, pitched for a scheme to transfer a reasonable basic income to Indians below the poverty line based on a survey on misallocation of resources […]

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World Basic Income claims to be a "new practical solution to global inequality and poverty" . The idea is that every person in the world, whatever their circumstances and no matter where they live, would be given money regularly in addition to what they earn at work or receive in state benefits.

The funding would come from, what the organisation World Basic Income (WBI) describes as, " harvesting a share of the wealth that our ancestors have built up over the centuries, and that the earth yields now ". With the world producing total wealth of $76trillion a year , […]

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