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UNIVERSAL BASIC INCOME

UBI is based on the idea that everybody should be given a basic minimum income as an entitlement and not as compensation for work, which shall be directly cash transferred to the eligible beneficiaries. The individuals would, therefore, be free to use the cash as per their discretion and spend according to their individual preferences.

Universal Basic Income is a radical and compelling paradigm shift in thinking about both social justice and a productive economy. It could be to the twenty first century what civil and political rights were to the twentieth. It is premised on the idea that a just society needs to guarantee to each individual a minimum income which they can count on, and which provides the necessary material foundation for a life with access to basic goods and a life of dignity.

UBI has three components:

Arguments in Favour of UBI

Credit – increased income will release the constraints on access to credit for those with low income levels.

Arguments against UBI

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