‘Let go’: Country’s top economist drops big hint about the key focus area in the next budget

The Economic Survey 2024-25 will emphasize deregulation as a key strategy to boost job creation and enhance female workforce participation. Chief Economic Advisor (CEA) V. Anantha Nageswaran highlighted this theme during the Assocham Bharat@100 summit on Thursday, signaling a policy shift towards simplifying regulations at state and local levels.

Deregulation or letting go is the big theme: CEA

Speaking at the event, Nageswaran said, “We touched upon it quite a bit in the economic survey in July, and that is going to be the big theme. Deregulation or letting go is the big theme for the coming economic survey as well.”

He stressed that bridging the gender divide and creating more employment opportunities require policy reforms focused on easing regulatory barriers.

Restrictions on women’s employment

Nageswaran pointed out that across states, women are restricted from participating in 118 occupations deemed hazardous. “If you want to increase female workforce participation, then the focus has to be on the plumbing of deregulation that has to happen in state and local governance,” he said.

Upcoming Economic Survey

The Economic Survey, which provides a detailed analysis of the Indian economy’s performance and outlines policy recommendations, is set to be presented in Parliament on January 31, 2024. With deregulation as its central theme, it is expected to propose actionable measures for promoting economic inclusivity and job growth.

The upcoming survey’s emphasis on easing occupational restrictions reflects a broader goal of fostering an equitable and efficient labor market in India.