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  Business   Economy  31 Jan 2017  Economic Survey 2017 may recommend UBI

Economic Survey 2017 may recommend UBI

THE ASIAN AGE
Published : Jan 31, 2017, 10:58 am IST
Updated : Jan 31, 2017, 10:58 am IST

Survey is also expected to lower GDP growth estimate to 6.5 per cent for 2016-17, reports BloombergQuint.

 Finance Minister Arun Jaitley. (Photo: Twitter/ANI)
  Finance Minister Arun Jaitley. (Photo: Twitter/ANI)

Mumbai: Finance Minister Arun Jaitley is all set to present the Economic Survey 2017 in Parliament today. The exercise will kickstart the Budget session of Parliament.

BloombergQuint on Tuesday reported that the Survey may recommend Universal Basic Income that the government may or may not accept and incorporate in key policy decisions.

 

The news service quoted government officials as saying that Survey has proposed  to implement UBI through “direct transfers to the bank accounts of the poor to replace subsidy payments and other payouts.”

UBI is a fixed amount of money that residents of a country get on a regular basis.

The Survey is also expected to lower down the GDP growth estimate to 6.5 per cent for 2016-17. It has also pegged a 6.75 to 7.5 per cent GDP growth in 2017-18, according to BloombergQuint.

Tags: economic survey 2017, universal basic income, arvind subramanian, arun jaitley
Location: India, Maharashtra, Mumbai (Bombay)