Universal Basic Income to be Rolled Out by Narendra Modi Government Before 2019 Lok Sabha Elections: Report
The last official word on UBI dates back to February 2017 -- when the then CEA Arvind Subramanian, while presenting the Economic Survey, said "UBI is a concept whose time has come".
New Delhi, December 26: In what is likely to prove as a game changer ahead of th 2019 Lok Sabha elections, the Narendra Modi government is expected to roll-out the Universal Basic Income (UBI) programme early next year, as per reports. The policy promises a fixed amount of dividend in the bank accounts of unemployed section of the populace, along with those below the poverty line.
A discussion on the ambitious welfare project was scheduled to be held in this week's Cabinet meeting, reported News 18. If the government finalises the scheme in the coming days, it could be announced along with the Budget for 2019-20. India to Increase Public Health Spending to 2.5 Per cent of GDP: Narendra Modi.
The government has reportedly been considering the UBI for the last two years. Speculations of the scheme being rolled out began in November 2016 -- when Prime Minister Narendra Modi implemented the shock demonetisation drive.
The Basic Income programme is likely to ensure an amount which would cover the monthly basic needs of an individual. The implementation of UBI, however, could lead to the revocation of most subsidies extended by the government, experts claim.
The last official word on UBI dates back to February 2017 -- when the then Chief Economic Adviser (CEA) Arvind Subramanian, while presenting the Economic Survey, said "Universal Basic Income is a concept whose time has come".
(The above story first appeared on LatestLY on Dec 26, 2018 07:05 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).