The introduction of the Basic Income Grant (BIG) in South Africa can lead to economic and financial sustenance. This grant can help many people combat poverty. The Basic Income Grant is a grant that’s paid monthly to people who are unemployed and people who are receiving financial support from the government or any organization for example if you receive NSFAS or UIF you will qualify for the grant, including people who are unemployed and receive any SASSA Social Grant can qualify for the grant too.
Many people believe that the Universal Basic Income grant would be the R370 Social Relief of Distress (SRD) grant’s substitute but unlike the SRD grant the Basic Income Grant will be permanent and unconditionally available to every South African citizen many parties in our government want to expand the SASSA SRD grant into a Basic Income Grant.
Basic Income Grant (BIG) will be how much?
It is believed that the Basic Income Grant should be at the upper bound poverty line, which is between R1,335 and R1,500 this grant should be paid monthly to everyone with little to no income, and if the grant will be R1,335 per month,h it will cost South Africa R150 billion per year.
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The South African government, National Treasury, has allocated R33.6 billion in the budget speech of the 2024/2025 financial year for the Social Relief of Distress (SRD) Grant, a bit high compared to the Basic Income Grant.
The Permanent SASSA Social grants (i.e. Child Support Grant, Old Age Grant etc.) were allocated R217.1 billion in 2023/2024, and it will increase to R259.3 billion in the 2026/2027 financial year, South Africa spend more than half a billion rand (R500 billion +) in grants every year.
If some of these grants get combined into a Basic Income Grant (BIG), S.A. will save a lot of money and this grant will help change the lives of millions of people and poverty will be a thing of the past.
Who will qualify for the Basic Income Grant (BIG)?
We all know that the miniature version of the Basic Income Grant which is the South African Social Security (SASSA) Social Relief of Distress (SRD) grant has a lot of requirements and limitations but the basic income grant will be more diverse and it will be available for people who are:
- Aged 18 to 59
- Permanent residents
- Refugees
- Migrant workers
- Asylum seekers
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The implementation of the Universal Basic Income Grant will definitely help fight poverty in South Africa we can see that with the Social Relief of Distress (SRD) grant.
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