A comparison between Spain’s basic income scheme and MEPLRF’s basic income scheme model

  

Introduction

The Ingreso Mínimo Vital (IMV) is the Monthly Basic Income Scheme in Spain introduced in 2020. It provides a guaranteed minimum income to vulnerable households, aiming to alleviate poverty and ensure financial support for those in need. The IMV is means-tested and considers factors like income, family composition, and assets to determine eligibility. Applicants must meet income thresholds, asset limits, and residency requirements. The maximum monthly benefit varies based on family size and composition.

A study was carried out to compare the monthly income scheme of the Spain Government and MEPLRF's monthly income scheme. The main findings of the work are presented below. 

Conclusions

The findings indicates are MEPLRF's monthly income  scheme model is superior and good as it do not have any economic burden on any one.