The account that is running SQL Server Setup does not have one or all of the following rights: the right to back up files ...

The account that is running SQL Server Setup does not have one or all of the following rights: the right to back up files and directories, the right to manage auditing and the security log, and the right to debug programs.
To continue, use an administrator account with these rights, or update Local Policy.
For more information, see http://msdn.microsoft.com/en-us/library/ms813696.aspx, http://msdn.microsoft.com/en-us/library/ms813959.aspx, http://msdn.microsoft.com/en-us/library/ms813847.aspx, or KB2000257.
After resolution, logging out and back in is required for the new settings to take effect, then try the Basic installation again.