Wednesday, June 3, 2020

Universal Basic Income

India is a poverty stricken nation, the country has been striving for poverty eradication through various schemes and policies over many years but the success in this direction is minimal.

According to the report of Global Poverty Index, around 27 crores people have been able to come out of the vicious cycle of poverty, still the range of poverty is highest in India. The poverty stricken or people on the edge of poverty line are always vulnerable to social injustice and may fall prey to the never ending vicious cycles of debt burdens.

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Poverty is considered as the root cause of numerous problems our country is struggling with. The lack of buying capacity deprives them from the quality life, even the basic amenities which every individual should be entitled to. They usually are malnourished causing health problems. And when a huge chunk of Indian population is unfit, this leads to the shortage of human resources required for the development of nation.

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Poverty is a huge concern in the list of policy makers. The idea of Universal Basic Income can be seen as a ray of hope in the gloomy world of the vulnerable section.

The concept of UBI means that a basic minimal amount is provided by the government to the people through direct bank transfer. This can ensure the poor is provided with basic requirements of life in all seasons enabling the fulfilment of SDG 1- NO POVERTY; SDG 2- ZERO HUNGER; SDG 3- GOOD HEALTH AND WELLBEING. Further the section will be socially and economically empowered, and lead to holistic development. Also, this can help bridge the gap between different classes.

The government had started a pilot project in West Delhi and Madhya Pradesh in 2013, which yielded positive results. The scheme is assumed to benefit the poor section but there are equal apprehensions regarding the implementation.

If implemented, there is possibility that this will make families less enthusiastic about earning for themselves. The delusion that the government is providing for us can be harmful for the interest of the country, this attitude can turn the assests into nation’s burden.

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