The ongoing crisis is creating changes that could ... moreThe ongoing crisis is creating changes that could end up dividing society into pre- and post-COVID-19 days. It's not only the virus, we are also at war with disruptive technologies ushering in productivity gains that we have never seen before, thereby steadily reducing human capital requirements, making jobs a premium. According to reports, Silicon Valley with five of the world’s eight most valuable companies with a cumulative market cap of over $4 trillion, yet they together directly employ just 1.2 million people. With almost a chunk of India’s workforce in the informal sector without minimum wages or social security, their one the ground plight has been worse than anywhere else, due to the ongoing pandemic. One way to ensure their sustenance throughout these trying times is the introduction of unconditional regular pay checks at maximum universality, at least till the economy normalises, experts posit. If universal basic income ever had a time, it is now, they assert. In the fourth dispatch of the series India Restart, we decode deeply the concept of Universal Basic income and the road ahead.
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