"A payment of ₹3200 per year to all the women would cost just 1.1% of the GDP and can be fully funded by removing the middle-class subsidies."
Uh, that's not a UBI. The most important element of implementing Basic Income in India would be to avoid the usual Indian oversmartness of carving out special groups or exceptions. Only then will it be a true UBI, only then will it really work. Otherwise it will turn into another leaking dole which will inspire bitterness in those who don't get it.
A related topic to explore would be Modern Monetary Theory (https://en.wikipedia.org/wiki/Modern_monetary_theory). To me, it 'feels' unscientific, violative of the laws of conservation, etc. But hey, it seems to have worked ever since the 2008 crisis, with all the quantitative easing since then by the major economies (USA, Japan, EU...).
If MMT really works, then basically the government would be able to finance deficits by printing currency, without fear of inflation or other negative consequences. And that might make UBI more feasible...
Of course it's possible that this introduces structural macro problems in the long run (which we haven't hit yet since 2008). But then, in the long run, we're all dead :)
Hello! Did you see this study? https://www.theatlantic.com/ideas/archive/2021/03/stocktons-basic-income-experiment-pays-off/618174/ Says much the same thing. https://www.npr.org/2021/03/04/973653719/california-program-giving-500-no-strings-attached-stipends-pays-off-study-finds. We need an India specific one though. And thought must be given to remove people's misconceptions like, free stuff means men don't work (though apparently, women do).
"A payment of ₹3200 per year to all the women would cost just 1.1% of the GDP and can be fully funded by removing the middle-class subsidies."
Uh, that's not a UBI. The most important element of implementing Basic Income in India would be to avoid the usual Indian oversmartness of carving out special groups or exceptions. Only then will it be a true UBI, only then will it really work. Otherwise it will turn into another leaking dole which will inspire bitterness in those who don't get it.
A related topic to explore would be Modern Monetary Theory (https://en.wikipedia.org/wiki/Modern_monetary_theory). To me, it 'feels' unscientific, violative of the laws of conservation, etc. But hey, it seems to have worked ever since the 2008 crisis, with all the quantitative easing since then by the major economies (USA, Japan, EU...).
If MMT really works, then basically the government would be able to finance deficits by printing currency, without fear of inflation or other negative consequences. And that might make UBI more feasible...
Of course it's possible that this introduces structural macro problems in the long run (which we haven't hit yet since 2008). But then, in the long run, we're all dead :)
https://www.theguardian.com/commentisfree/2019/may/06/universal-basic-income-public-realm-poverty-inequality
👏🏼Really liked the ‘resource distribution justice’ reason for UBI. From that view, the status quo is pure exploitation.
Also addition i think: “UBI in India of approximately ₹7000 per year would cost”
7k per year per person?