UN experts call for Universal Basic Income to help revive economy

Countries across world are looking at a possible economic crisis that is predicted to arrive in aftermath of coronavirus pandemic. United Nations has called on governments to introduce Universal Basic Income (UBI) cautioning that fiscal stimulus packages alone would not help revive economy. Kanni Wignaraja, Assistant Secretary-General of United Nations and Balazs Horvath, Chief Economist at UNDP, Asia-Pacific in World Economic Forum's Agenda in a release on April 18 said that UBI is needed as part of package that will help us to get out of this yawning pit.

Re: COVID-19: WHO Warns re Is No Evidence That Antibody Tests Can Show Immunity

UN experts in blog post said, "In COVID-19 outbreak frenzy, several countries are considering massive fiscal stimulus packages and printing money, to blunt concurrent crises underway: pandemic and unravelling economic depression. se plans are essential, but y need to be strategic and sustainable. Because in dressing current crises, we must avoid sowing seeds of new ones, as stakes are incredibly high."

Re: European Countries See About 50% Drop In Pollution Amid COVID-19 Lockdown

"It is time to d a new element to policy packages that governments are introducing, one we know but have abandoned: Universal Basic Income (UBI). It is needed as part of package that will help us to get out of this yawning pit. naysayers and re are plenty, will point out that it won’t work because no country can afford to regularly dole out money to every citizen. y will argue that we will run unsustainable deficits, which cannot be financed," UN experts ded.

Re: COVID-19: UK Doctors vised To Wear Aprons Amid Shortage Of Protective Gowns

experts furr ded that countries like United States and Cana are alrey creating similar plans, citing example of US state Alaska, where residents have been receiving UBI payments for years now. Canian Prime Minister Justin Trudeau reportedly has pledged C$2,000 a month, for next four months, to workers who have lost income due to COVID-19. 

Re: Coronavirus: Switzerland's Matterhorn Mountain Lights Up To Send Message Of Hope

Coronavirus outbreak

Coronavirus pandemic has infected over 2.27 million people globally and has killed nearly 1,56,000 patients since it first broke out in December 2019. virus is believed to have originated from a seafood market in Chinese city of Wuhan, initial epicentre of disease, where animals were reportedly being tred illegally. Currently, United States, Italy, Spain, France and United Kingdom are most affected countries in world with a recorded death toll of 14,000 and above.

(Image Credit: AP)