Extolling virtues of the Universal Basic Income (UBI), Finance Minister Mr Arun Jaitley today said at ASSOCHAM event at least one state is willing to take a plunge and launch a pilot on the scheme, proposed by the Economic Survey.
“UBI is an idea worth considering. Today I had the first finance minister of a state meeting me to say that my state is willing to take a plunge as a pilot project pooling all the state and central subsidies. We will identify the poor people of the state, give cheque to a family every month” Mr Jaitley said, addressing captains of the industry at the ASSOCHAM Annual Event.
This way he said, poverty can be eliminated over night in a region where it is implemented.
Universal Basic Income is a form of social security paid to individuals. This idea is being debated for some time now in India. On 31st Jan 2017 the Finance Ministry had released the annual economic survey which said about exploring how the country might replace its various welfare programs with a universal basic income, or a uniform stipend paid to every adult and child, poor or rich. Guaranteeing all citizens enough income to cover their basic needs would promote social justice, the survey says, and empower the poor to make their own economic choices. It would also be easier to administer than India’s current antipoverty programs, which are plagued by waste, corruption and abuse.
