Ahmedabad: Chief economic advisor Arvind Subramanian said on Friday that the Universal Basic Income (UBI) advocated by the Economic Survey can be put in place only after the withdrawal of existing welfare schemes.
“The cost of this programme (UBI) is so huge that it cannot be an add-on to the existing programmes as the government cannot afford it and the government’s finances will go bust,” Subramanian told students of the Indian Institute of Management Ahmedabad (IIMA). “In India, UBI is about upliftment of the poor… The government spends a lot of money on social welfare schemes, but they do not […]
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