India needs basic income scheme to make lockdown work, says Thomas Piketty

India desires to appear out with a standard money plan to make the lockdown perform, French economist Thomas Piketty mentioned on Tuesday. He also mentioned that India has the prospective to grow to be the worldwide democratic leader of the twenty first century if it manages to deal with the situation of inequality.

The govt has imposed lockdown from March 25 to suppress the spread of coronavirus and considering that then prolonged the constraints 2 times.

I assume the govt would be well recommended to introduce a standard money plan, and more normally to produce a security net in India. I do not see how a lockdown can perform with no a procedure of money servicing, Piketty instructed PTI in an interview.

Curiously, the idea of universal standard money was mooted in Financial Study 2016-seventeen by the then main economic advisor Arvind Subramanian and there was a discussion past year

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