• DR.KISHOR KUMAR DASH

Universal Basic Income also known as UBI has received ample attention for its promise of solving many economic inequalities and boosting social well-being. Consequently, this paper considers possibilities of the approach application in different countries and discusses its economic effects on such factors as poverty, work demographics, and income divide. As the result of literature review the study examine the financial feasibility and socio-economic effects of UBI by using comparative analysis of current pilot projects and the subsequent theoretical concepts. Lack of monetary means is a key factor that defines the quality of life and personal financial stability, and hence the results imply that UBI can significantly decrease such a level of poverty in the country in question as it sets guaranteed minimum income. But again, for labor markets, things are mixed and may entail negative impacts on labor supply while experiencing positive impacts on entrepreneurship and volunteering. Moreover, UBI may enhance income RED especially if it replaces many existing welfare schemes and relies on the funding strategies. Concerning posed questions, the study states that although UBI offers exciting opportunities to turning poverty and low job quality into competitions, the policies’ effectiveness in benefiting such goals calls for policy makers to take into consideration fiscal capacities of the country, possible challenges on employment incentives and other complementary policies that may hinder the success of the idea in the long-run. More empirical works and pilot analysis have to be carried out to enhance the application of the model and extend economic advantages for various types of economies.

UBI, Poverty, labor markets, employment, distribution, low job quality

"Examining the feasibility of implementing UBI in various countries and its potential economic impacts on poverty alleviation, labor markets, and income distribution", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 11, page no.c214-c232, November-2024, Available :http://www.jetir.org/papers/JETIR2411229.pdf

"Examining the feasibility of implementing UBI in various countries and its potential economic impacts on poverty alleviation, labor markets, and income distribution", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 11, page no. ppc214-c232, November-2024, Available at : http://www.jetir.org/papers/JETIR2411229.pdf