From The Economic Times of India:
The Prime Minister’s Office (PMO) has given its approval to the labour ministry proposal on universal social security cover for 500 million workers, including those in the farm sector, seeking to start the process of putting in place a more secure welfare net a year before the general election.
The finance and labour ministries will work out the details of the scheme that will require nearly Rs 2 lakh crore [2 trillion rupees or $30 billion dollars but doublecheck my math -- a lakh is 100,000 and a crore is 10,000,000 in the Indian numbering system while a rupee is worth $.015] when fully rolled out for the lower 40% of the country’s total workforce.
The remaining 60% of the workforce is expected to make contributions out of their own pocket, either fully or partially ...
The labour ministry has proposed a comprehensive social security system to provide retirement, health, old-age, disability, unemployment and maternity benefits to the 500 million workers. ...India gets universal health care coverage before the United States?
"India gets universal health care coverage before the United States."
ReplyDeleteI don't get it. I assume health, disability, unemployment and retirement is already well taken care of by the free market system in India. Where are the Libertarians in India? Where is the Tea Party of India? Where is the Freedom Caucasus?
Could it be that yet another country has realized that, although the free market works well in many areas, some things are better handled by government. After all, countries which have a national health system spend a lot smaller portion of their GDP on health care and get outcomes as good of better than here in the United States.