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Social Security For 1 Cent A Day

Posted by: Nate Berg

30 May 2007 - 5:00am

A bill facing parliament in India would provide a broad social security program for nearly 400 million poor workers in India. Some say the $22 billion program will cost too much to sustain.

"Once passed by parliament, the scheme will provide the country's 390 million poor and non-unionized workers with life insurance and disability protection."

"More than a third of India's population of one billion-plus people lives on less than $1 a day."

"More than 90% of India's workforce is not represented by organised trade unions."

"These workers earn their living as farm labourers, construction workers, brick kiln workers, and many are self-employed, with no access to social security benefits."

"Under the new scheme, the non-unionised, casual worker will be entitled to life insurance and health and disability benefits by contributing just one rupee (one cent) a day."

Full Story: Social security for Indian poor
Source: BBC, May 24, 2007
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Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
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