Over the past month, India's Prime Minister has used the stick on his people in an attempt to force them to give up their cash and move all commerce into a systematic financial process that could be monitored and taxed by government authorities. This of course led to a massive backlash as a society that for centuries has run primarily on cash, and where only 36% of the population even has a bank account, rushed instead to exchange their currency for gold rather than deposit their cash into the banks.
Now however, Prime Minister Modi appears to be switching his stick for the carrot and is using a different means to try to entice India's 1.4 billion people into the banking system by proposing a scheme of free money, or a Universal Basic Income, to get a large portion of the population reliant upon the government and more amenable to buying into their financial system.
The Indian government is likely to introduce Universal Basic Income, a practice of paying every person a fixed sum of money as a means to stimulate the economy and improve the quality of life of its citizens, according to the concept’s leading proponent.
The Indian government is preparing a report documenting that a Universal Basic Income (UBI) is "feasible" and "basically the way forward," according to professor Guy Standing, a leading advocate for UBI, and the leader of the Basic Income Earth Network movement (BIEN). - Sputnik News
The ultimate goal of the Universal Basic Income system is to try to get everyone reliant upon the government, and their money stored in the banks where at a later time the ultimate agenda of a cashless society can be instituted. But to do this it may take a financial crisis of epic proportion to achieve this, and that may be coming much sooner than people could imagine.