The northeastern state of Sikkim plans to implement the Universal Basic Income(UBI) to all its residents.
Sikkim’s CM’s party, the Sikkim Democratic Front (SDF), recently introduced the Universal Basic Income Scheme in its manifesto ahead of the Assembly election(2019) and aims to implement it by 2022. If this goes according to plan then Sikkim will be the 1st state to implement Universal Basic Income in India.
What is Universal Basic Income (UBI) ?
Universal Basic Income (UBI) is a programme for providing a sum of money to all its citizens of a country or other geographic area/state, irrespective of their income, resources or employment status.
The introduction of UBI will prevent or reduce poverty and increase equality among citizens.
According to Basic Income Earth Network (BEIN), the essential principle behind Universal Basic Income (UBI) is the idea that all citizens are entitled to a livable income, irrespective of the circumstances they are born in.
Funding Plan of Sikkim:
- The successful implementation of the hydropower projects by the state has made it surplus power generating state.
- Sikkim plans to subsume other subsidies and allowances in order to provide a particular amount every month to people.