Thoughts on Universal Basic Income

Consider the government has decided to give money to every citizen in its country every month unconditionally. By unconditionally I mean you don’t have to do anything at all! Sounds like a fantasy right? Well not really. The idea of universal basic income has been floating around for decades and there are several places where this idea is being currently tested.

Let me explain why this idea is worth considering.

First, let’s agree on some common things. The reason majority of the people go to work is because they need money to pay their monthly bill. So with Universal Basic Income in place, those who are truly passionate about something can follow them without having to do a mundane job.

Well one might argue that most of the population will stop working if they are given free money. Let me ask you something, will you stop working if I give you Rs.5000 every month? Of course not. Universal basic income ensures that every citizen has enough money to meet his basic needs but not lead a luxurious life. So even with universal basic income in place, I am sure 99% of the people will still go to their job.

Then one might wonder why bother giving money to everyone if 99% of the people end up going to their same old work. The whole universal basic income concept is all about empowering the remaining 1%. It was always that one person who made a revolutionary discovery and not the majority of the population.

But for that 1% to unleash their true potential they should have enough free time and the only way to ensure they get free time is through Universal Basic Income. Moreover, this will also reduce the female infanticide, farmer suicide and most of the social evils drastically.

Next question is how will the government pay for all of this? Switzerland has already voted on Universal Basic income (Although the people rejected the proposal ). But with most jobs getting replaced by machines, Universal Basic Income will be viewed seriously in a couple of decades rather than a Utopian fantasy.

This is what will happen if Universal Basic Income is implemented in Rocky’s world.

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Is the Universal Basic Income a good idea for Country like India?

Sikkim recently declared to include the Universal Basic Income scheme in its manifesto ahead of the Assembly election in 2019 and aims to implement it by 2022. If everything goes according to the plan, it will be the first state to implement UBI in India.

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What is Universal Basic Income

A basic income is a periodic cash payment unconditionally delivered to all on an individual basis, without means test or work requirement. Considered a viable way to reform social security to address the shortcomings that the current system is rife with – targeting and delivery – the main motive behind UBI is to address the behavioural, design, and implementation downsides in the currently used systems of unemployment and social security benefits.

Why the UBI is a good idea?

Several countries have conducted pilot studies to explore the feasibility of making basic income a social security mainstay. Most notably, the Finnish government implemented a 24-month pilot in January 2017. In his article on UBI and initial observations from the pilot, the Guardian columnist Aditya Chakrabortty discusses how UBI’s potential rests on it being unconditional. By guaranteeing some income periodically, it liberates the recipients to pursue work they find meaningful, which in turns results in better economic outcomes.

Canada and Netherlands have also launched UBI pilots in early 2017, both as a social security measure and as an alternative to developmental aid. These examples are from the developed world. What about the developing world like india?

Can basic income work in India?

The Economic Survey of India 2016-17 discussed UBI as a viable alternative to a plethora of state subsidies targeting poverty alleviation. According to the ESI, if we considered a basic income transfer of INR1000 per month (approximately $15/month), we would have 20 million beneficiaries. Even a basic income of $4 per individual per month can reduce India’s poverty level by 16%, from its current level of 22%. The cost to do this would be 2% of GDP, the same amount we currently spend in total on food, fuel, and fertiliser subsidies. In early 2017 when the then Chief Economic Advisor to the Government of India, Dr. Arvind Subramanian, included a substantial chapter [2] on UBI in his annual Economic Survey (2016-17) which was presented to the Indian Parliament.

Economists feel the basic income should be fixed at a level that is just above the poverty line in a country. In India, various panels, including the Rangarajan committee, have fixed this level at between Rs 32 and Rs 47.

Universal basic income: a 500-year-old idea with a new kick : Click here

"Germany: The first basic income experiment in Germany will start in 2019"

An 18-month basic income trial was conducted in Madhya Pradesh in 2010. Every man, woman, and child across 8 villages received a monthly cash transfer, while another village was used as a control group. The money was paid individually, initially as cash, and after three months was debited into their bank or cooperative accounts, without any conditions.

For a detailed post on how UBI will affect Indian citizens, read this post : Thoughts on Universal Basic Income

UBI potentially solves the pressing issues faced by social security in India. By virtue of being universal, it eliminates any risk of leakage. By leveraging the JanDhan-Aadhar-Mobile (JAM) trinity, UBI can ensure efficient delivery. More importantly, UBI is targeted individually, making it a social security measure that could reach even the most marginalised sections of the population.

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Believe in yourself!

Believe yourself

Wow it's a different feel when suddenly life let you realise on your own… I still remember the day when I am planning to grow plants in my house because I was bored on my usual routine. I went to my aunts house to get some plants from her Garden… She was really happy when she gave her plants to me because she was going out of country and she felt really sad about her plants because there is no one to take care of it. She gave me few roots of the plants so that I can take home easily and I can grow it.

Then I returned to my place,  I bought few pots and soil to put the roots. Once all set I was really happy that finally my dream becomes true that I am making my own garden. But my happiness ends on that day itself the very next day the plant turns from green to brown and I don't know what I should do. Everyday when I leave to office I turn and see it but it made me sad.. Though, I never stopped to water the plants. One day my mom asked me “why are you wasting water. It's already dead and it won't grow”. I said,  “It will grow”. She just smiled and went. 

Then it becomes 2nd month. I myself had a doubt whether there is no use of growing it because the color of the plant was too dark and we can even break all stems into pieces that's how it was. After that I decided I shouldn't be more attached to it on an emotional way and I left it but my parents alone daily pour water for my happiness.

It's been third month I guess if I am not wrong, when i am back from office I turned on my mobile torch and look at the plant and I got shocked because it turns to green then i immediately controlled myself and said maybe it's a weed. I totally forgot the structure of the plant then i googled it and i came to know that the same plant which my aunt gave me is growing now. Nobody will understand the happiness which I got on that day..

It's just a two weeks born baby plant but it grows very fast, its has too many stems and roots now. On last friday I thought I would take one root separately and again I plant it in a separate pot. I watched all the youtube videos to see how to take a root without hurting the other roots.

In all the videos they said if you dig with your hands twice in the soil, we will get the roots without using any tools. I also tried the same but I couldn't see the roots in two dig. Then again i took the few more soil from the pot but I couldn't able to view it. I had a curiosity... A month back we thought it's dead but now it is having a long root I cannot able to believe it. I took the soil till I could see the pots bottom layer, then only I could able to see the roots of that plant.

At that point of time someone hit from back and made me to realize this is our so called “LIFE”.  Two months back my mom said its dead and a month back I also decided it's a time to take this plant out from my garden. But it was growing inside without showing it to the  world.

This is how our life too right? We will get failures and world will say that our decisions are wrong sometimes we ourself will feel like we are not gonna achieve our dream but please don't stop your learnings and stop pouring water like the way my parents did.

A good clock will never stop its running, in that our time will also be there. Make a strong base untill your time comes.Once you get your chance just explore it to the world and grow just like my plant did :-)

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