Universal Basic Income not needed, may create perverse incentives: CEA Nageswaran

Chief Economic Advisor (CEA) V Anantha Nageswaran dismissed the idea of Universal Social Security or Universal Basic Income for India and said the natural economic growth will take care of the country's aspirations. "We may be creating the ground for perverse incentives for people to not make their own effort in seeking [income-generating] opportunities," he explained.