Context:
Local trials of Universal Basic Income (UBI) have demonstrated overwhelmingly positive outcomes across various states, bolstering support for this social policy.
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About Universal Basic Income (UBI):
- UBI represents a regular cash disbursement provided individually to every member of a political community, devoid of means-testing, work prerequisites, or conditions.
- The absence of disposable income contributes to and perpetuates poverty and inequality. Traditional policies often fall short in aiding the most vulnerable segments of India.
- UBI offers the ability for individuals to fulfill their needs autonomously without preconditions, empowering them. Its universal and unconditional nature alleviates the government’s need for resource-intensive eligibility assessments, benefiting the underprivileged by eliminating bureaucratic hurdles.
Political Initiatives:
- Several initiatives such as Nyuntam Aay Yojana (minimum income scheme) and Krushak Assistance for Livelihood and Income Augmentation (KALIA) in Odisha. These aims to provide financial support to specific groups like poor families, farmers, and agricultural laborers.
- Cash transfer programs focusing on women have emerged in states like Madhya Pradesh, Karnataka, and Tamil Nadu, tailoring benefits based on specific criteria like gender or occupation.
Challenges with Targeted Schemes:
- The Economic Survey 2016-17 highlighted significant misallocation of funds in major welfare schemes, indicating exclusion of eligible beneficiaries.
- UBI implementation can mitigate such issues by streamlining fund allocation and curbing financial leakages through direct beneficiary transfers.
Diverse Needs and UBI:
- India’s diverse populace presents complex governance challenges. However, with distinct needs across various demographics, uniform policy creation becomes impractical.
- Cash as a universal medium of exchange can offer each individual an economic foundation, granting them the autonomy to address their unique requirements.
Success Stories and Examples:
- UBI pilots like WorkFREE in Hyderabad and the SEWA initiative in Delhi have reported positive outcomes. Some of them are like improved health insurance coverage and enhanced access to better quality food, leading to improved nutritional standards.
Conclusion:
Universal Basic Income (UBI) emerges as a potent tool. It is capable of addressing socio-economic disparities by providing financial empowerment and autonomy to individuals. This fosters positive changes in their lives.
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