India’s Government Thinks a Universal Basic Income Could Eradicate Poverty
India is considering a radical idea for tackling poverty: rolling out a Universal Basic Income (UBI), according to a report by the country’s Ministry of Finance.
Released on Monday, the annual Economic Survey says that the scheme would nearly eradicate poverty — although it says there are “considerable implementation challenges” which have to be addressed first. The report calls for more pilot trials before India decides whether to roll out UBI nationally.
The idea behind universal basic income, which is attracting attention in countries including the USA and France, is simple: a regular state payment made to all citizens, regardless of working status.
The Economic Survey, written by the finance ministry’s chief economic adviser Arvind Subramanian, says that a UBI would promote social justice, and empower the country’s poor — as Business Insider first reported at the start of January.