Can universal basic income replace welfare schemes?

Yes, the universal basic income has the potential to replace welfare schemes. It has supporters among the political left and right, and among proponents as well as opponents of the free-market economy. You can read about the Universal Basic Income (UBI) – Necessity, Benefits, Guiding Principle in the given link.

Further readings:

1. Difference between Minimum Income Guarantee (MIG) and Universal Basic Income (UBI)
2. MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) – Facts, Objectives, Roles of State Govt, Gram Sabhas, Panchayats