Universal Basic Income is a welfare scheme under which the Government of a country provides to all its citizens, a minimum income that allows them to meet the basic necessities of life.
This is a welfare scheme aimed at alleviating poverty by allowing every citizen of the country a minimum standard of living.
Under the minimum income scheme, every citizen of the country is entitled to this basic income; regardless of their employment or economic status.
Compared to other welfare schemes which have high administrative costs, such a scheme is easier to administer given the fact that the only qualifying criteria for eligibility is the citizenship of a country and money can be transferred directly to the account of the beneficiaries.
A basic income scheme provides a safety-net to individuals and allows them to focus more self development and the upliftment of their families rather than worry about survival.
Such a scheme also has the potential of reducing the incidence of forced and child labour and promote education and entrepreneurship.