New Delhi, Dec. 27 -- Economic Advisory Council to the Prime Minister (EAC-PM) member, Sanjeev Sanyal, drew a sharp distinction between welfare "safety nets" and politically driven "freebies," warning that poorly targeted subsidies and generous pension promises could create unsustainable fiscal burdens for future generations.

In an interview with ANI, Sanyal, while speaking on economic policy and social welfare, said a certain level of safety net is essential in any risk-taking society. "In a risk-taking culture, failure is inevitable. Whether it's a startup or even setting up a small kirana shop, risk exists at every level. Some people will fall off at the edges, and society must provide safety nets for them," he said.

"I want to clari...