Debraj Ray (for Info only, not official)

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Debraj Ray

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    ...But it’s expensive: A little payout multiplied by the population is a big payout.Try giving everyone in the US$10,000 each annually, and you will spend in excess of three-quarters the annual federal budget.Nevertheless, the idea has found serious purchase in Europe: The Swiss even voted on it in June (though it didn’t pass), and Finland and the Netherlands are planning to try out UBI by following a group of lucky recipients around.You would think that the UBI is a good idea for rich countries.But there is also a prima facie case for trying it in a country like India, which one way or the other has been making large transfers for decades.Just the public distribution scheme for foodgrain represents a subsidy of around 1.4% of the gross domestic product (GDP), but if you add to this the subsidies on fertilizer, transportation, water, electricity and other goods, we are up to well over 4% of GDP. ...

    Live Mint on Sept. 29, 2016, 9:26 a.m.

    Media Object

    Short extract

    ...But it’s expensive: A little payout multiplied by the population is a big payout.Try giving everyone in the US$10,000 each annually, and you will spend in excess of three-quarters the annual federal budget.Nevertheless, the idea has found serious purchase in Europe: The Swiss even voted on it in June (though it didn’t pass), and Finland and the Netherlands are planning to try out UBI by following a group of lucky recipients around.You would think that the UBI is a good idea for rich countries.But there is also a prima facie case for trying it in a country like India, which one way or the other has been making large transfers for decades.Just the public distribution scheme for foodgrain represents a subsidy of around 1.4% of the gross domestic product (GDP), but if you add to this the subsidies on fertilizer, transportation, water, electricity and other goods, we are up to well over 4% of GDP. ...

    Live Mint on Sept. 29, 2016, 9:26 a.m.