A file photo of Arvind Subramanian New Delhi: A universal basic income, rather than a cut in the tax on personal income, can boost consumption as India tries to come out of the grips of a deep economic slowdown, former chief economic advisor (CEA) Arvind Subramanian, said on Friday.
Subramanian, who delivered a talk on "India’s Great Slowdown" at the Observer Research Foundation, said that India should moderate its long-term economic growth expectations and take urgent steps, including setting up bad banks to acquire failed power producers and builders to counter the economic slowdown.
Subramanian, who had served as the CEA […]
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