A topper · GS3 · 56 pages

Shivendra Pandey: GS3 answer copy

20 answers by Shivendra Pandey, as written in the test. Each question opens a page with how other toppers answered it.

The questions

The answers

Question 1 · 10 marks · 178 words written

The multiheaded hydra of inequity is reinforced by the skewed concentration of wealth. How far can Universal Basic Income (UBI) check the growth of economic inequity? Substantiate your answer.

Opening · a figure

As per Oxfam report, 2021 Top 1% of India population hold more than 40% of total wealth which shows glaring economic inequality present in the country.

Role of UBI (Universal basic income) in addressing economic inequality

Body · points

  1. Tax on superrich, rich to fund welfare program will lead to redistribution

ii) Social security in form of basic monthly support ensures minimum standard of living

iii) financial support will enhance their Capital, credit → will help poors to start new avenues

iv) Will promote entrepreneurship, self employment opportunities

However, such scheme are not free from drawbacks

Drawbacks

i) - Risk of moral hazard

ii) - high tax on superrich may force them to leave India → Decline in Investment → Decline in Tax collection

iii) Issue of inclusion & exclusion error

iv) Lack of comprehensive data on inequality in terms of wealth

Thus, schemes like Universal basic income should be implemented after careful deliberation.

Way forward → Promote Entrepreneurship, employment opportunities via skill, financial support

→ Enhance the social security support to lowest strata of society (→ - Bottom 5%.)

Close · a way forward

None written.