A recent report by the International Labour Organization talks about how jobs growth has been lagging globally due to automation and Artificial Intelligence, and problem of youth unemployment in India.
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Characteristics |
Cash Transfer Scheme |
Universal Basic Income |
Definition |
It is an income support scheme aimed at specific purpose for targeted groups. |
It is an income support mechanism intended to reach all with no conditions. |
Coverage |
Targeted to specific groups Women, Farmer, Youth, Children.
|
Universal - All Citizens |
Cash / Kind |
It can be either
|
Only in Cash |
Conditions |
They can be conditional such as
|
No Condition |
Individual / Group |
It can be individual or family basis. |
It is individual basis. |
Purpose |
They aim to directly address specific problems correspond to specific social objectives. |
It addresses diverse problems aiming at holistic development. |
Method of Transfer |
Direct transfer to Bank accounts. Example : PM KISAN Or Through an intermediary mechanism. Example : Public Distribution System |
Direct transfer to Bank accounts only. |
Inclusion and Exclusion errors |
They face inclusion and exclusion errors. |
It aims to address inclusion and exclusion errors by making everyone eligible. |
The Hindu | Universal Basic Income
State level Income Transfer Schemes