The multifaceted hydra of inequity is reinforced by the skewed concentration of wealth. How far can Universal Basic Income (UBI) check the growth of economic inequity? Substantiate your answer.
Introduction
UBI, Universal Basic Income grants the basic minimum income to all persons of the society.
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Main Body
UBI, Universal Basic Income grants the basic minimum income to all persons of the society. Advantages of UBI: (1) Empower the rural vulnerable to enjoy social benefits like education, medical services. (2) Will help in reduction of equality between male and female - gender equality. (3) Boost in demand in the economy. Therefore economic growth. (4) Will implement the efforts of government like education scheme, mid-day scheme, PM scheme, PDS, etc. (5) Will cleaner and greener economy can be done.
UBI is also being moulded by certain states like Punjab government can opt for partial basic income to show in need and should focus on personalizing the basic necessities which ensures them to attain livelihood parity as in economic growth.
Aditi Arora
Economic Development
Inclusive Growth & Issues Arising From It
Universal Basic Income and economic inequality
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analytical
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