Chief Economic Advisor (CEA) Arvind Subramanian today expressed hope that at least one or two states will implement the idea of universal basic income (UBI) in the next two years. Subramanian in the Economic Survey 2016-17 had mooted the idea of universal basic income or a uniform stipend paid to every adult and child, poor or rich. "I can bet ... within the next two years, at least one or two states will implement UBI," Subramanian told reporters here. Universal basic income (UBI) will guarantee all citizens enough income to cover their basic needs and would be easier to administer than the current anti-poverty schemes, which are plagued by waste, corruption and abuse.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)