Universal Basic Income (UBI) explained in less than two minutes

Universal Basic Income (UBI) Scheme in India. With an eye on the 2019 elections, the BJP-led government may announce a Universal Basic Income (UBI) scheme. Under UBI, every citizen, regardless of their identity or social and economic position, will be entitled to periodic cash payments. The government will transfer a stipulated amount to the bank accounts of citizens. UBI has often been touted as an important measure in the fight against extreme poverty. India is home to one-third of the world’s extremely poor people. The scheme might also help small farmers tackle financial distress. UBI can remove the income disparity. It can help negate shortcomings of around 950 social welfare schemes, including poor targeting and misallocation of funds. However, there will be hurdles in its implementation. The fact that UBI is not targeted does not mean all beneficiaries are automatically identified. It cannot fully replace existing welfare schemes like MNREGA & PDS. Nearly one-third of the Indian population still has no bank accounts. The scheme may provide unnecessary benefits to higher income groups