What is Universal Basic Income?

Universal Basic Income is a periodic, unconditional cash transfer to every citizen in the nation (not to households) to guarantee them a minimum level of income support.

UBI does not take social or economic positions of the individual into consideration. This topic is very important for all IAS exam aspirants.

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What is the major strategy of Universal Basic Income?

Universal basic income (UBI) is an effective income model aimed at providing all citizens of a region with a definite sum of money, regardless of their income, resources or employment status. The purpose of UBI is to uplift the financial status and reduce the income differences in society.

What is universal basic income India?

The Universal basic income in India is based on 3 focal points:

  1. Universality – This ensures every citizen is equally provided with basic needs
  2. Unconditionality – There are no criteria to distinguish which makes it available for all.
  3. Agency – Freedom to choose the way an individual wants to spend their income

What is the minimum income scheme?

The minimum income scheme is a process initiated for social welfare upliftment by ensuring every section of the society is provided with a basic income for their needs provided they meet necessary criteria.

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