TOOL · GROSS COST

How much would a basic income cost in India?

Calculate the gross annual cost of paying a monthly amount to the country’s adult and child population.

Country

Adult population 1,077,731,603child population 360,337,993year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

12,075,846 million

in INR₹12,075,845,755,200

Equal to 4.2% of reference GDP

Population covered: 1,438,069,596 people

Adults: 1,077,731,603 × ₹800 × 12 = ₹10,346,223,388,800

Children: 360,337,993 × ₹400 × 12 = ₹1,729,622,366,400

₹10,346,223,388,800 + ₹1,729,622,366,400 = ₹12,075,845,755,200

Offset benefits, recovered tax, administrative savings and later economic effects are not deducted. This is a gross cost, not a net cost.

Sources and method

Population 2023 · World Bank WDI

GDP 2023 · $3,500,906,030,645 · World Bank WDI

Currency INR · exchange rate 82.5993 INR/USD (2023)

Converted cost $146,197,960,500 for the GDP share.