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POSITIVE BREAKING

EAC's recommendations to the government range from guaranteed employment to universal basic income

by Shailee Mishra

Date & Time: May 21, 2022 4:00 PM

Read Time: 1 minute



Highlight

• The report is intended to assist the government in developing reform strategies
• And a road map for the country's social progress and shared prosperity.

The Prime Minister's Economic Advisory Council has recommended that the government implement a guaranteed employment scheme for urban unemployed people, implement a universal basic income, and allocate more funds to the social sector in order to reduce inequality in India while creating airtight slabs to classify different income groups in the country.

Overview

Looking at the disparity in labour force participation rates between rural and urban areas, we believe that urban equivalents of demand-driven, job-guaranteed schemes like MGNREGS should be implemented to rehabilitate surplus labour," the EAC-PM said in its report 'The State of Inequality in India,' prepared by the Institute for Competitiveness.

"Raising the minimum wage and introducing universal basic income are two recommendations that can help close the income gap and ensure a more equitable distribution of earnings in the labour market," it continued. The report is intended to assist the government in developing reform strategies and a road map for the country's social progress and shared prosperity.

The EAC-PM believes that measuring poverty in a multidimensional context necessitates mapping poverty mobility

"As a result, it is recommended that airtight slabs be established that clearly distinguish between classes." This will also help define the middle-class income share and the target beneficiaries of social protection schemes, which include the lower-middle-class, lower-class, and those living below the poverty line," according to the report.

Inequality is a sensitive topic. It's also an empirical problem, because definition and measurement are both dependent on the metric used and the data available, as well as the timeline."

According to Bibek Debroy, chairman of the EAC-PM, the report takes stock of both inclusion and exclusion and contributes to policy debates.

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