Universal Basic Income – Is it the right time?

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Attacking poverty at the root may need the Universal Basic Income. Here's an analysis.

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Universal Basic Income – Is it the right time?


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If any government can find ways to efficiently transfer money into poor people’s accounts, then to some extent, poverty can be ended. It is the UBI concept – Universal Basic Income. Worldwide, many setbacks to globalization, and weak growth has forced nations to implement some or the other form of UBI.

It is “a basic social security measure for those who have no means of livelihood and no work”. Problem with India is the extreme poverty which badly drags down economic activity and growth numbers. UBI, maybe, can attack that at the root by giving some liquidity in people’s hand where there was none. Experiments show people do not always misuse it – in fact the reverse maybe true. We can try and attack poverty broadly, or narrowly.

 BROAD ATTACK – The sheer number of poor is very large. In 2011-12, 26.93 crore poor existed (40.37 crore in 1993-94). If we give Rs.1000 per month to 20 crore people, then it comes to Rs.2.4 lac crores. We don’t have that kind of money. (Hence, DeMo + GST to improve tax to GDP ratio, etc.) NARROW ATTACK – In 2011, the Socio Economic Caste Census (SECC) showed à India has 24.49 crore households, of which 17.97  cr. are Rural. A total of 8.89 crore households need help (16 lac poor, 8.73 crore facing some deprivation) So if we go for narrow identification, we can better distribute resources at a subsistence level. Lot of leakages in other welfare schemes and PDS can be cut. DBT will help.  But lot of problems – Overall it is not a cheap option at all. Some may stop seeking work. Governments may want to stop many other benefits. What if leakages start happening? Many critics say that It is better to use MNREGA than inventing a new scheme. 
[ Check Bodhi Resources page for MNEREGA Act ]



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Bodhi Booster: Universal Basic Income – Is it the right time?
Universal Basic Income – Is it the right time?
Attacking poverty at the root may need the Universal Basic Income. Here's an analysis.
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