Answer:
Implementing a universal basic income (UBI) in a developing country like India can have significant socio-economic implications. Here’s a look at the potential benefits and challenges:
### Benefits1. **Poverty Alleviation**:- **Direct Cash Transfers**: Providing a basic income directly to individuals can immediately improve their standard of living and reduce poverty.- **Financial Security**: UBI can offer financial stability, enabling people to cover essential needs like food, healthcare, and education.2. **Economic Growth**:- **Increased Spending**: With more money in their hands, people are likely to spend more, boosting local economies and creating demand for goods and services.- **Entrepreneurship**: Financial security can encourage […]
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