The coronavirus lockdown has reinforced the merits of a basic income scheme. But apart from alleviating distress, the replacement of wasteful subsidies by a basic income scheme would even be financially prudent. It would make economic reform more viable and the public sector more efficient.
Posts tagged as “economic reform”
The working middle class in the West faced difficulties due to globalisation. But unlike in the West, the rise of right-wing populism in India does not have an economic rationale. Instead, it actively sabotages the economic openness which has worked well for India in the past.
A key driver of unemployment is the chasm between industry and educational institutions. The method of teaching and examination employed across universities in India remains largely primitive and bookish, failing to fulfil the current needs of the industry.