Universal Basic Income (UBI) is a programme for providing all citizens of a country or other geographic area/state with a given sum of money, regardless of their income, resources or employment status.
The main idea behind UBI is to prevent or reduce poverty and increase equality among citizens.
As per Basic Income Earth Network (BIEN), the essential principle behind Universal basic income is the idea that all citizens are entitled to a livable income, irrespective of the circumstances they're born in.
Funding for UBI - Initial plan:
The SDF government has already considered the "affordability" of the scheme.
1. The successful implementation of the hydropower projects by the state has made it a surplus power generating state.
The state produces 2200 MW and it will go up to 3000 MW in the next few years.
The state's requirement is only 200-300 MW and the rest goes to power trading firms.
When this money comes in, we as SDF feels its people's money and it should be utilized for them.
2. Sikkim also plans to subsume other subsidies and allowances in order to provide a particular amount every month to people.
Other places where UBI/similar programmes were implemented
In 2011-2013, Madhya Pradesh, India started Madhya Pradesh Unconditional Cash Transfers Project where Rs. 300 were provided to every single adult and Rs. 150 to children. It is considered a successful experiment as the living conditions improved drastically.
Similar programs include MINCOME in Canada and Basic Income Grant in Namibia, which also have shown successful results.
The advocates of the UBI praise the concept as futuristic which will allow the people to look into the future without worrying too much about income to survive.