Difference between Minimum Guarantee Scheme (MIG) and Universal Basic Income (UBI) is explained here in detail. Universal Basic Income (UBI) focuses on 3 themes, Universality, Unconditionality and Agency. This topic is important from the perspective of the Indian Economy and Indian Polity Syllabus. The difference between the Minimum Guarantee (MIG) Scheme vs Universal Basic Income (UBI) given here can help the UPSC Civil Service exam aspirants to understand the basics better and know their comparisons thoroughly.
Aspirants would find this article very helpful while preparing for the IAS Exam.
Difference between MIG and UBI – UPSC Notes:- Download PDF Here
The major difference between Minimum Guarantee Scheme (MIG) and Universal Basic Income (UBI) are:
| Minimum Guarantee Scheme (MIG) | Universal Basic Income (UBI) |
| Minimum Guarantee Scheme (MIG) is a plan proposed by Congress Party. It is also called NYAY. | Universal Basic Income is a plan proposed by the National Democratic Alliance (NDA) Government. |
| The MIG plan was proposed by Congress Party head Rahul Gandhi | Universal Basic Income was proposed by former Finance Minister Arun Jaitley. It was proposed in the Economic Survey of 2016-17. |
| The amount allocated under Minimum Guarantee Scheme (MIG) would be 2% of the GDP. | The amount incurred under Universal Basic Income (UBI) scheme would be 4.9% of the country’s GDP. |
| Under the Minimum Guarantee (MIG) scheme, an amount of Rs 6000/- per month would be transferred to 25 crore people. | Universal Basic Income (UBI) scheme proposed 75% of the population were to be provided with Rs 7,620/- per annum. This number was arrived at by taking into consideration the 2011-12, Tendulkar poverty line. |
| Under the MIG scheme, every member of the family will not receive the money, and rather, the entire family would be considered as a single unit. | Money will be provided to every member of the family as per Universal Basic Income (UBI) scheme. |
| To transfer the amount in this plan, the Union territories, State Governments and the concerned institutions have to identify the beneficiaries | Under the Universal Basic Income (UBI) Scheme, there is no need to prove socio-economic status or unemployment status. |
After learning about the Minimum Income Guarantee Scheme and Universal Basic Income difference, it is better to know the Universal Basic Income (UBI) details thoroughly. Visit the below-given links to learn about Universal Basic Income – Benefits, Pros, Cons; Direct Benefit Transfer (DBT), Pradhan Mantri Jan Dhan Yojana; Jan Dhan Aadhaar and Mobile (JAM – Trinity), Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and the facts on Pradhan Mantri Kisan Samman Nidhi Yojana, in detail along with other information. These are the main differences between the Minimum Income Guarantee (MIG) Scheme and the Universal Basic Income (UBI) of India. The differences given in the above table can help the UPSC Civil Service Exam aspirants to answer any related questions easily in the exams.
- Universal Basic Income – Necessity, Benefits, Pros and Cons
- Direct Benefit Transfer – An Overview
- Pradhan Mantri Jan Dhan Yojana
- JAM – Trinity
- Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
- Pradhan Mantri Kisan Samman Nidhi YojanaÂ
- Difference between Economic Growth and Economic Development
- Difference between Articles – Complete List (History,Geography,Polity and More)
UPSC Civil Service Exam aspirants should diligently study the Indian Economy Notes and Indian Polity Notes, as it is an extremely important components of the UPSC Civil Service Exam Syllabus.
The above details would help candidates prepare for UPSC 2021.
Frequently Asked Questions on Difference between Minimum Income Guarantee (MIG) and Universal Basic Income (UBI)
Q 1. What is meant by UBI?
Q 2. Who introduced UBI and MIG?
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