The Big Picture - Universal Basic Income

Sikkim’s ruling Sikkim Democratic Front (SDF) has decided to include Universal Basic Income (UBI) in its manifesto for the upcoming assembly and Lok Sabha elections, according to a report by The Indian Express. The state has already begun the process of introducing the unconditional direct cash transfer scheme and is planning to implement the same by 2022. It could become the first state in India to implement UBI. The 2017 Economic Survey had advocated implementation of UBI as an alternative to the various social welfare schemes in an effort to reduce poverty. The Survey said, “UBI is a powerful idea whose time even if not ripe for implementation, is ripe for serious discussion.” However, Finance Minister Arun Jaitley in June 2017 said the scheme as proposed in the Economic Survey will not be politically feasible in today's India.

Guest - Ajay Dua, Former Secretary, Ministry of Commerce & Industry,
Sushil Chandra Tripathi, Former Chief Secretary, Uttar Pradesh,
Subhomoy Bhattacharjee, Consulting Editor, Business Standard,

Anchor - Frank Rausan Pereira

[Amalrocks]

Kudos for RSTV for bringing such intelligent panelist. Well worth debate 👌

[ashutoshchandra]

Tripathi sir put it in right context with different theory such as
State knows the best better than person.
Trickle down effect, growth of economy will lead to reduce poverty.

Really eminent and knowledgeable pannel

[sauravpanwar]

Instead of UBI following steps should be consider-
1. 1000rs per month to unemployed graduate upto 3 years of study.
2. 1000rs per month to marginal farmers below 2 acre land.
3. 10000 allowance to girls on getting first public sector and formal private sector job.
4. Widow and old age pensions .
5. More profits to MSMEs.

[rudraprasaddatta]

By far the best news channel with the best of discussions with the best of people in a civilised way!

[rahulg]

frank has good knowledge and detailed information on topic he chooses. otherwise other anchor just catch threads of previous speaker and ask question to next speaker.

[maheshkumar]

Thanks you RS TV and all panelists and staffs.

[swapniljavir]

Mr.Frank is an enlightened person..knows everything...

[gaddamsudheerkumarreddy]

It is very complex and important issue, need economists to discuss in better way, than former bureaucrats and journalists.

[srinivasgarimella]

F R P - Your programs are amazing, each and every single one. Thank you.

[skullcandy]

the economic survey 2016 - 2017 suggested UBI for alleviation of poverty.
Similar schemes:
1)mgnrega-guaranteed paid work for 100 days
2) Andhra Pradesh government giving 2000 rupees per month to unemployed below a certain age

Benefits:
1) reduce inequalities in income
2)employment- money can be used for startups which in turn demands workforce
- money can be used for preparing people for government jobs
3) economic growth- due to purchasing power( Keynes theory)
It may be suitable for a state like Sikkim by considering its low population, energy surplus, better HDI and geographical stretch.
Otherwise it may not be sustainable:
1) encourage laziness
2) fails to check excess spending
3) Gender inequality and patriarchy- money given to women may be misused by male family members.
4) fiscal strain
5) people still do not use banks for savings. keeping it at home will decrease savings capacity.
6) increase in purchasing power may lead to inflation.
Way Ahead:
subsidies or partial UBI can be used to reduce fiscal strain
UBI to be linked to a welfare scheme where a minimum is guaranteed. the amount will increase if there is improvement in their productivity.
pilot basis on suitable areas that make it feasible(e.g. Sikkim)
target vulnerable areas and groups(farmers, miners....)
decentralised mechanism since each state has different dynamic.
remove unnecessary subsidies so that it can be used for uni
go for Universal basic capital.
ubi to be given based on the performance only so that there is no extravagant spending.

-

[pradeeppatel-dhrc]

सरकार को अब ऐसी व्यवस्था की तरफ बढना चाहिए जिससे जनता को वकील की जरूरत ही न पडे या न्यूनतम जरूरत पडे ।

[sayansen]

Never thought I'd watch a well informed debate here

[Ak-ygmi]

*UBI is next sixer* ? UBI shud be given with 1/2 child condition and scrap all subsidies (slowly stepwise)

[godgifted]

A.K.Bhattacharya were need to be in this conversation:(

[prashantshukla]

very good discussion with panel and frank sir.

[nayanjain]

Major problem will be where will you get labour from if you give such freebies?? No one will like to work as livelihood is taken care off by such schemes

[roaringbanjara]

Modi should bring this scheme, it will be very helpful for poors and rural people

[yashasvikansotia]

It would also lead to inflation given a higher demand and a possibly lower supply as people have a basic income in hand.

[vishalkumar-ihpe]

What economic survey suggested was quasi universal basic income
Resources can come from corporates using automation gaining profits .
Or as government says there are savings from direct benefit transfer and use of aadhar
Govt can use this for pilot project of ubi
Main idea of ubi was backup to job loss due to automation

[madhushekharc]

UBI may be a good idea but it has many loopholes according to me.
*It may erode the working popltn in the rural areas especially the agricultural labourers.
* It may create a way for those kind of people to be more lazy and may also demand for higher wage for farm activities.
* They may spend this for many illegitimate purpose.
* May increase in unemployment
* This may not prove to be a sustainable plan for the country where demographic dividend shows average age of India will be 29 which lies with demand for more employment rate.
* Instead of jus feeding with readymade food teach Indians to cook food, it will be a far better idea to become leader in the world soon in future.