[AZT]

Spain is deploying a basic income to citizens to ease the coronavirus impact

The measure will have a modest reach at first, with about 100,000 homes receiving a monthly payment that ranges between €462 and €1,000, depending on the number of children in the family. But it will then be extended and become a financial safety net, the government hopes, for about one million homes.

A few weeks after Spain’s strict lockdown brought much of the economy to a shuddering halt. Thousands of companies have had to lay off staff temporarily, and although the government has agreed to keep paying those workers in the interim, many have no contract to protect their rights.

Spain also has one of the highest levels of inequality across Europe

Read More: https://www.irishtimes.com/news/worl...need-1.4264895

[Sutripta]

Originally Posted by AltoLXI

Some of the "economists" and "intellectuals" are proposing citizen's resource to be treated as national resource.

Interesting 'debate' between Sekhar Gupta and Yogendra Yadav, in The Print.

Sutripta

[SmartCat]

The only reason why developing countries like India did not launch electorally popular schemes like cash payout to unemployed or basic income is concerns about raging inflation in the future. Remember that once inflation genie escapes, it will take years to put it back into the bottle.

Developed countries in the Western world never had an inflation problem for decades. But now, some analysts are warning about high inflation in US/Europe in the near future:

Should we fear post-pandemic inflation?
https://economictimes.indiatimes.com...w/76083978.cms

[srishiva]

Originally Posted by SmartCat

The only reason why developing countries like India did not launch electorally popular schemes like cash payout to unemployed or basic income is concerns about raging inflation in the future. Remember that once inflation genie escapes, it will take years to put it back into the bottle.

Developed countries in the Western world never had an inflation problem for decades. But now, some analysts are warning about high inflation in US/Europe in the near future:

Should we fear post-pandemic inflation?
https://economictimes.indiatimes.com...w/76083978.cms

Attachment 2011657

I would be very happy to just know when is post-pandemic :(

Its a real possibility although it would depend on how soon everything will be normal and how long will developed countries keep providing the cash stimulus. Also, if people get into savings mode, it could have impact.

Developing countries with exports can enjoy for a short period. In reality only China might enjoy pandemic and post-pandemic periods.

[V.Narayan]

Real GDP growth in quarter ended March 2020, 3.1% with only 1 week of lockdown

https://www.thehindu.com/business/Ec...le31703885.ece

It is any one's guess how much the GDP would shrink in AMJ quarter this year. If this quarter has shrunk any number at or above ~17% to 20% then GDP growth this year is definitely negative. Just my rough arithmetic.

[whitewing]

Originally Posted by srishiva

Upto 90% of Indians work in informal economy and they earn 4 dollars a day? Nice to know, didn't watch after that.

Originally Posted by ashokrajagopal

..............
As to 4 dollars, that is Rs. 300, that's not a wrong estimate either.

Originally Posted by Dry Ice

Later on in the video, she specifically mentions "Australian" dollar for another transaction value. If you take it as that - it's less than 200 INR a day.

Would it be right to assume that MNREGA wages is the the floor number for minimum wages?
If so,the numbers don't appear to be "fictional" - consider the MNREGA numbers.
https://www.thehindubusinessline.com...le31197140.ece

Workers in Haryana will be entitled to ₹309 per day for work done in 2020-21, up from ₹284 in 2019-20, while in Madhya Pradesh and Chhattisgarh, they will be entitled to ₹190 per day, up from ₹176 currently.

[Romins]

"Social distancing and good hygiene are essential weapons in the fight against COVID-19.

But how can you maintain social distancing in one of the world's largest slums? How can you wash your hands regularly when there is no running water? And what happens when millions of people who survive on meagre wages are suddenly without work and struggling to feed themselves?"

India: Under Lockdown

[digitalnirvana]

Originally Posted by AZT

Spain is deploying a basic income to citizens to ease the coronavirus impact

Sorry if I am wrong but everything I have read about this seems to say this is not Universal Basic Income but rather an amount given to below-poverty-line people so that they end up with the state mandated minimum welfare amount.

Think of it as a top-up policy of sorts.

Do you have anything that shows that this is indeed UBI?

[Jeroen]

Originally Posted by digitalnirvana

Sorry if I am wrong but everything I have read about this seems to say this is not Universal Basic Income but rather an amount given to below-poverty-line people so that they end up with the state mandated minimum welfare amount.



Think of it as a top-up policy of sorts.



?

Correct.

https://www.aljazeera.com/ajimpact/s...080443046.html

All though they call it basic income, it is effectively what other European nations might call wellfare. It only applies to those with no income or very little, in case it tops up to this basic level

Jeroen

[AZT]

Originally Posted by digitalnirvana

Do you have anything that shows that this is indeed UBI?

I didn’t use the word Universal, screenshotting the article I had quoted. It’s a form of basic income targeting the poor.

[TusharK]

Only 36,697 cars were sold in India in the month of May.



Maruti Suzuki sold 13,700 cars during the month - the highest among all manufacturers, while Hyundai sold 6,883 units. Sales numbers of Maruti were down by 88.7% compared to the same month last year. Hyundai's sales dropped by 83.8%.

Mahindra sold 3,867 units, 81.2% less compared to the same period last year. Tata Motors sold just 3,153 cars, which was 74.6% less than the sales recorded in May 2019.

In fifth place was Renault with total sales of 1,753 units. Kia's sales dropped by 80.6% compared to the previous month to 1,661 units.

Toyota and Volkswagen recorded 1,641 units and 1,404 units respectively. MG, Ford, Skoda, Nissan and Honda sold less than 1000 units each. Fiat sales stood at 93 units.

Thanks to the Team-BHP fan (he prefers to remain anonymous) who sent this image in. Heartfelt gratitude for sharing it with other enthusiasts via this page!

Link to Team-BHP News

[Shreyas]

Originally Posted by TusharK

Only 36,697 cars were sold in India in the month of May.

Attachment 2012569
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Fiat sales stood at 93 units.

Didn't Fiat stop selling cars in India? How come Fiat has sold 93 units? Are those the Jeep numbers?

[Thermodynamics]

How did they sell during lockdown, may be they delivered outstanding bookings with registration on hold.

It is also probably one unusual month, where market share of MSIL dipped to 37% from ~50%.

[Bibendum90949]

Now with unlock 1.0 kicking in shortly, showrooms and businesses are slowly opening up. These dismal numbers are bound to get better. But then it'll mostly be the pending deliveries and pre lockdown bookings. One should keep an eye on the fresh bookings. In the immediate future, one can safely guess it's Maruti and Hyundai that's going to benefit with their slew of entry level hatches as more people look to have a personal mode of transport with the pandemic threat far from being over.

[Venkatesh]

Hyundai Creta SUV Is The New Number 1 Car In Indian Market In May 2020.

Creta becomes the first non-Maruti Suzuki car in more than a decade to occupy the top position in domestic monthly car sales.

Creta accounted for nearly half of total cars Hyundai sold in the domestic market in May. 3,212 units of the Creta were sold during this period.

https://www.carandbike.com/news/hyun...market-2239135