Tue, Jan 31, 2017
Finance Minister Arun Jaitley has advocated the concept of Universal Basic Income (UBI) as an alternative to the various social welfare schemes in an effort to reduce poverty. He said this in the Economic Survey tabled in Parliament on January 31, 2017.
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PM Modi's foreign visits over the past two years have exclusively focused on marketing India as a perfect destination to set up factories. The government rightly believes that manufacturing has to grow if India has to attain GDPs of 8% and above.
Finance Ministry is likely to suggest a Universal Basic Income (UBI) for the poor in the Economic Survey 2016-17 to be tabled in Parliament on Tuesday January 31, 2017 at 1 pm.
Reportedly, this year's theme of the Economic Survey, could be 'Universal Basic Income'.
The Economic Survey 2015-16 started off by stating, "This year’s Economic Survey comes at a time of unusual volatility in the international economic environment." It termed India as being in a "sweet spot" arising from a combination of a strong political mandate and a favourable external environment.
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