Representative Image | Markus Winkler/Pixabay In the Economic Survey of 2016-17 the concept of Universal Basic Income (UBI) was discussed as a potential solution to reducing poverty and income inequality. It was put forth as a radical idea whose time had come. The survey report estimated that the cost of a direct cash transfer to every Indian of Rs 7,260, equal to the then poverty line number would entail an annual cost of 4.9% of GDP. This was unthinkable and daunting given the fiscal resources available to the government. So UBI was a distant and elusive goal. However, the […]
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