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. That implies one need not demonstrate his or her unemployment status or financial character to be qualified for UBI. It can be funded in different forms like food or services or in vouchers or can be a direct transfer into bank accounts to help decrease money leakage. It would avoid the inefficiency and wastage associated with government subsidies, and helps the upliftment of the poor out of poverty.

Question for the Day on the Topic

Consider the following statements.

  1. UBI does not take social or economic positions of the individual into consideration.
  2. It would help to decrease money leakage.

Select the correct statements

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer: C