{"id":14496,"date":"2021-03-22T00:00:00","date_gmt":"2021-03-22T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/22-03-2021\/universal-basic-income-2\/"},"modified":"2025-07-30T17:08:24","modified_gmt":"2025-07-30T11:38:24","slug":"universal-basic-income-2","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/22-03-2021\/universal-basic-income-2","title":{"rendered":"Universal Basic Income"},"content":{"rendered":"<p><strong>In News<\/strong><\/p>\n<p>West Bengal Chief Minister Mamata Banerjee mentioned the <strong>Universal Basic Income<\/strong> for every family in her released Party manifesto for the 2021 Assembly election.<\/p>\n<p><strong>About<\/strong><\/p>\n<ul>\n<li>Under the income scheme, all the 1.6 crore families under the general category will get ?500 a month and the Scheduled Castes and Scheduled Tribes population ?1,000 a month.<\/li>\n<li>The direct transfers will be in the name of the women head of the family.<\/li>\n<\/ul>\n<p><strong>What is Universal Basic Income (UBI)?<\/strong><\/p>\n<ul>\n<li>A basic income is an i<strong>ncome unconditionally granted to all citizens<\/strong> on an individual basis, without means test or work requirement.<\/li>\n<li>It is a <strong>form of minimum income guarantee<\/strong> that is being paid irrespective of any income from other sources.<\/li>\n<li><strong>Components: <\/strong>It have three components:\n<ul>\n<li><strong>Universality: <\/strong>UBI for all<\/li>\n<li><strong>Unconditionality<\/strong>: UBI without any conditions.<\/li>\n<li><strong>Agency:<\/strong> UBI can make a citizen move away from being a subject of government welfare programmes to agents of its own change.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Significance<\/strong><\/p>\n<ul>\n<li>It will <strong>guarantee to each individual a minimum income<\/strong> for a dignified life with access to basic goods.<\/li>\n<li>The payments could help <strong>stabilize the economy<\/strong> during recessionary periods.<\/li>\n<li>It will promote <strong>social justice by reducing poverty.<\/strong><\/li>\n<li><strong>Increase the purchasing power<\/strong> of every poor which will further increase aggregate demand.<\/li>\n<li><strong>Easy to implement<\/strong> because no identification of the beneficiary is involved.<\/li>\n<li><strong>Reduce the wastage<\/strong> of government money because its implementation is very simple.<\/li>\n<\/ul>\n<p><strong>Supporters of the UBI programme<\/strong><\/p>\n<ul>\n<li>The <strong>2016-17 Economic Survey<\/strong> and the <strong>International Monetary Fund (IMF)<\/strong> had proposed UBI as an effective means of alleviating poverty and hunger.<\/li>\n<li>Other Supporters of the UBI programme include Economics Nobel Laureates Peter Diamond and Christopher Pissarides, and tech leaders Mark Zuckerberg and Elon Musk.<\/li>\n<li><strong>Countries across the world<\/strong>, including Kenya, Brazil, Finland, and Switzerland have begun controlled UBI projects to supplement their population.<\/li>\n<\/ul>\n<p><strong>Challenges of UBI<\/strong><\/p>\n<ul>\n<li><strong>Disincentivization to the work<\/strong> and the work productivity may decrease.<\/li>\n<li>It can cause more <strong>social problems<\/strong> like more alcohol consumption, tobacco consumption etc.<\/li>\n<li><strong>Inflation could be triggered<\/strong> because of the increase in demand for goods and services.<\/li>\n<\/ul>\n<p><strong>Suggestions<\/strong><\/p>\n<ul>\n<li>UBI should be made universal first across easily identifiable vulnerable groups like widows, old, pregnant women etc.<\/li>\n<\/ul>\n<p>Source: <a href=\"https:\/\/www.thehindu.com\/elections\/west-bengal-assembly\/west-bengal-assembly-polls-trinamool-congress-manifesto-promises-universal-basic-income-student-credit-card\/article34092477.ece\" target=\"_blank\" rel=\"noopener\">TH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In News West Bengal Chief Minister Mamata Banerjee mentioned the Universal Basic Income for every family in her released Party manifesto for the 2021 Assembly election. About Under the income scheme, all the 1.6 crore families under the general category will get ?500 a month and the Scheduled Castes and Scheduled Tribes population ?1,000 a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[26,46],"class_list":["post-14496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-gs-3","tag-indian-economy-related-issues"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/1852167current-affairs.jpg","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=14496"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14496\/revisions"}],"predecessor-version":[{"id":49745,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14496\/revisions\/49745"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/14497"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=14496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=14496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=14496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}