One of the more fundamental challenges while formulating an economic policy is (apart from what the actual policy should be) to time the policy right. In other words, it means that before the policy is proposed, the underlying situation of the economy is determined, its social and political effects calculated, its necessity and priority estimated.
The timing, therefore, is astonishingly critical and its effects are severely underestimated, which is why, the idea of introducing or even discussing Universal Basic Income (UBI) in India at this stage is extremely flawed and only caters to stimulate the intellectual fantasies of certain individuals […]
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