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Indian Journal of Finance

ISSN: 0973-8711 Frequency: Monthly Peer Review: Double-blind Published since: 2007 Language: English
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Original Article

Open Access Original Article

Perception of Universal Basic Income and its Perceived Consequences

Khujan Singh1,  Pooja Kataria2

1 Professor, Haryana School of Business, Guru Jambheshwar University of Science and Technology, Hisar - 125 001, Haryana

2 Research Scholar , Haryana School of Business, Guru Jambheshwar University of Science and Technology, Hisar - 125 001, Haryana

Volume 18
Issue 6
Pages 62–75
Year 2024
Received: Aug. 20, 2023 Accepted: April 10, 2024 Published: June 30, 2024
Abstract

Purpose: The current study focused on understanding the perception of universal basic income (UBI) and its perceived consequences. We investigated this potential alternative program that would address the shortcomings and restrictions of the current welfare system.

Methodology: Five variables were used which addressed a diverse spectrum of dimensions related to the perception of universal basic income. Furthermore, how this perception varies across different demographic groups was examined. A total of 432 respondents from Haryana were included in this study. Statistical techniques like exploratory factor analysis, t-test, one-way ANOVA, and Welch test were used to analyze the data.

Findings: The findings of the study indicated that females and unemployed respondents were more inclined to support UBI and were less skeptical toward its moral consequences as compared to men and employed individuals. Furthermore, people with less income strongly supported the concept, but they were less optimistic about its moral consequences and believed that UBI might encourage people to be lazy and unproductive.Practical

Implications: It was proposed that carrying out a large-scale pilot project can yield relevant information regarding the viability of universal basic income. The government may have a greater knowledge of how UBI could aid in resolving societal challenges, including poverty, unemployment, and inequality, through a thorough evaluation.

Originality: The majority of previous research has been done on European countries. This study is the first to concentrate on how the UBI is viewed in the Indian setting.

Keywords universal basic income (UBI) poverty support perceived consequences temptation goods essential goods
How to Cite

Khujan Singh, Pooja Kataria (2024). Perception of Universal Basic Income and its Perceived Consequences. Indian Journal of Finance, 18(6), 62–75. https://doi.org/10.17010/ijf/2024/v18i6/173969

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