5%, and cost between 4-5% of GDP. Ahmedabad: Chief Economic Advisor Arvind Subramanian, on Saturday said Universal Basic Income (UBI), as proposed in the recent Economic Survey, can be put in place only after withdrawal of the existing welfare projects. Let me end with an illustration of what a genuine universal basic income would entail. . Recently, Finland and Canada had taken steps towards providing Universal Basic Income (UBI) on an experimental basis, while other developed and developing economies are tying their hopes to it too. While that might sound expensive, the survey notes that India’s current welfare schemes […]
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