Carnegie India
The information and communication technology (ICT) sector has played an important role in India’s economic growth and the emergence of an informed citizenry.
The basic income conversation is alive and well in India, particularly in the wake of an analysis conducted by the Indian Ministry of Finance’s 2016–17 Economic Survey.
Far from what is needed to realize its ambitious vision, the Survey proposes a cash transfer with a dubious ability to compensate beneficiaries for the transition costs of moving to a new system, and one that would be financed by an indiscriminate culling of existing welfare schemes.
While there is much uncertainty about its final form, it is clear that the quest for universal basic income involves navigating the tricky waters of weak state capacity and the urgency of improving India’s existing welfare architecture.
Public debate around a universal basic income—periodic and unconditional cash payments to all citizens—has grown significantly after the 2016-17 Economic Survey outlined such a scheme for India.
Instituting a Universal Basic Income requires public support spanning demographic lines, executive backing, and strong macroeconomic fundamentals.
The idea of a universal basic income (UBI)—periodic and unconditional cash payments to all citizens—has gained renewed attention amid growing concerns about technological unemployment in advanced economies.
Building a more conducive regulatory environment for businesses has been a critical reform area for India, particularly in an innovation-led economy increasingly dependent on entrepreneurship.
The Indian, Japanese, and U.S. effort to connect the Pacific and Indian Oceans could be an alternative to China’s Belt and Road Initiative and enhance the bargaining power of small countries vis-a-vis Beijing.
When the Doing Business report comes out this month, the nuances inherent in the data will likely be neglected by commentators looking to score points for one side or the other. Calmer heads should keep certain points in mind.
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