READ HERE - Article by Charith Gamage
Alongside its devastating impact on the global economy, the COVID-19 pandemic has encouraged a new era of innovative ideas. South Korea’s Universal Basic Income (UBI) experiment is a glimmer of hope in the darkness brought by COVID-19. It is an idea that has become popularised in many other countries, including the USA.
This article provides an overview of the concept and discusses how an experimental level-modified UBI program would boost the post-COVID Sri Lankan economy.
UBI
The key concept of UBI is to provide a basic income to all eligible adults that is sufficient to meet their basic needs. This is provided in the form of a basic living stipend; no questions asked, and this happens in the form of a free cash transfer.