The government is planning for the National social security for poor and unemployed, as government is considering an income transfer scheme that could work on national social security , which on the opinion whether it should be a universal basic income or more more focused support limited to the most vulnerable.
This idea is discussed for the purpose to addressing poverty and if decision is reached, it could be announced in the February 1 budget by FM Arun Jaitley.
Providing Rs 1,500 a month to an estimated 200 million poor will cost the government about Rs 3 lakh crore,resources that may be difficult to come by.
The government is committed to lowering the fiscal deficit to 3 per cent of GDP in FY18 .It is considered that if resources rises in the wake of demonetisation and the upcoming roll-out of the good and services tax (GST),the government may be in a good position to back such Scheme.
As unemployed people have no source of income, one idea is to put the money in the hand of woman.The idea has been gaining ground across the world.Finland recently announced a basic income scheme for anyone seeking employment.
Jammu & Kashmir became the first Indian state to commit to the idea of a universal basic income ,last week.
Chief economic advisor Arvind Subramanian said in October, " People are dragged into poverty due to droughts,declining agriculture opportunities,disease and so on".
The Economic Survey for the current fiscal year that will be released on January 31, at the start of the budget session, is likely to discuss the issue. Cost implications could limit its scope.
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