2017 · Q116
UBI, as an alternative for subsidies in poverty alleviation, stands for
General KnowledgeIndian Economy
- AUnion Basic Income
- BUndefined Basic Income
- CUnconditional Basic Income
- DUniversal Basic Income
Explanation
In the poverty-alleviation debate — notably in the Economic Survey 2016-17 — UBI stands for Universal Basic Income: an unconditional cash transfer paid to all citizens, proposed as an alternative to the maze of existing subsidies and welfare schemes. It does not stand for Basic Income Unit, Unlimited Basic Income or Universal Basic Insurance. The correct expansion is Universal Basic Income.