They might go bankrupt long before any of it's population actually receive money due to corruption.
The explicitly stated purpose of UBI here is that it can be implemented via direct electronic transfers to the recipients. That's pretty easy to audit electronically, particularly with biometrics which India is implementing.
In contrast, something like the LPG subsidy (which involves the physical delivery of gas cylinders) is insanely hard to police. How can the central government ensure that cylinders don't go to people who don't need them, that they contain the appropriate amount of gas, etc? It's virtually impossible.
The explicitly stated purpose of UBI here is that it can be implemented via direct electronic transfers to the recipients. That's pretty easy to audit electronically, particularly with biometrics which India is implementing.
In contrast, something like the LPG subsidy (which involves the physical delivery of gas cylinders) is insanely hard to police. How can the central government ensure that cylinders don't go to people who don't need them, that they contain the appropriate amount of gas, etc? It's virtually impossible.