• UGI USER
  • Jul 12, 2024
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“SJM CALLS FOR ‘ROBOT TAX’ TO MANAGE AI IMPACT”

Why in the news?

  • Swadeshi Jagran Manch (SJM), proposes a ‘robot tax’ in the upcoming budget to offset job losses due to AI adoption.
  • Tax funds would support retraining and adaptation of displaced workers into AI-driven industries.
source:scribd

About Robot Tax:

  • Definition: Robot tax proposes taxing companies using automation and robots instead of human labour.
  • Aims to address economic impacts like job displacement and income inequality.
  • Tax revenues support displaced workers with retraining and social welfare.
  • Compensate for lost human income and potential tax revenue.
  • Includes insurance underwriters, bank tellers, farmers, and more.
About AI Governance in India:

  • Guiding Documents: NITI Aayog issues National Strategy for AI and Responsible AI for All report.
  • Focus Areas: Emphasises social and economic inclusion, innovation, and ensuring AI trustworthiness.