All about basic income

CAN IT BE IMPLIMENTED?

It means cash payment to all citizens/people on individual basis without any work requirement by the govt. income varies with age to age but all age group people will get some amount of money every week or month. Giving basic income to the people is aimed at strengthening the individuals to full fill their basic needs. Researches by the universities proved that the basic income scheme can improve the lives of the marginalised and deprived people.



Interestingly, Many discussions were took off in USA, UK an in many European countries. Many economists practically implemented in some parts of Kenya. They found that this is the best tool I the hands of govt. to fight with poverty.

Gender equality

UBI (universal basic income) also paved a way for the gender equality as it would be payed equally regardless of their gender. Women can use the money for basic needs like school fee and nutrition. UBI will definitely promotes women empowerment.

Idea and implementation:

This idea, in India, recently came into light after the failure of govt. providing subsidies aimed at vulnerable people. Many researchers found that the subsidies and loan waiving is not a good economy and don’t produce long term results and merely a temporary relief. To give hands to the below poverty line (BPL) people UBI be implemented. However, this is not an easy task, requires knowledged, skilled officials and the assistance of the institutions. More transparent procedure is required.
Earlier subsidiary schemes are opened doors for the corruption. And, there is a lack of transparency in the implementation. But, UBI may close the doors of corruptions in many fields as the amount directly transferred to the accounts of the people.

A STUDY

In 2011, a study by UNICEF, UNDP and the self-employed women’s association (SEWA) in west Delhi and Madhya Pradesh showed that 300/- , 150/- per month to each adult and children respectively can make a big differences in their lives. On this basis UBI would cost 2.6% of the country GDP i.e.., 4.3 trillion rupees.




Some economists are suggested that MGNREGA could be replaced by the UBI as the scheme is poorly implemented and lacked in transparency. Although, some people arguing that MGNREGA be a great employment providing scheme than basic income if it’s loop holes are addressed properly.

STORY CONTINUOUS..CLICK HERE>>