“The government should make it heavy and heavy, because this increases the cost of doing business for MSMES,” Nageswaran said.
The latest economic survey predicts economic growth rate for the current fiscal year is 6.3-6.8%, compared with an estimated 6.5% in 2024-25.
Nageswaran said policy makers must make trade-offs. “Do we prioritize compliance as part-time productivity or do compliance as a primary goal and economic activity as a side effect?” he asked.
The private sector must also play a role to ensure it works according to the rules, he said. Nageswaran highlights India's demand to continue to maintain its macroeconomic stability while pursuing innovative, inclusive growth strategies. In addition to the ongoing structural reform, he has invested in targeted investments in human capital, technology and infrastructure. Private investment, energy transition, employment, AI, share of AI, income of capital and labor owners, education and skills, manufacturing and food security are priority for policy makers rather than religious religious enterprises. Transitions will not harm economic growth or increase consumers at unreasonable levels of cost.
As for deregulation, the latest economic investigation requires the government to get out of the situation and allow businesses to focus on their core missions.
The investigation endorsed a philosophical approach to governance, suggesting that the principles of the statutes operate from “crime until proven innocent” to “innocent” to “innocent” until proven guilty.
