Universal Basic Income (UBI) is a model for providing a sum of money to all citizens of a country or other geographic area with a given sum of money, regardless of their income, employment status. The purpose of the UBI is to prevent or reduce poverty and increase equality among citizens. In the Economic Survey 2016-17, Finance Minister Arun Jaitley advocated Universal Basic Income scheme (UBI) in place of various social welfare schemes in the country, in an effort to reduce poverty and income inequality in the country.
Economist Suresh Tendulkar had recommended a minimum of Rs. 7,620 per person […]