Deregulation, reforms key to spur growth: CEA Nageswaran

Nageswaran also emphasized the need to address the barriers hindering capital formation

- Rhik Kundu & Gireesh Chandra Prasad

The chief economic adviser V. Anantha Nageswaran emphasised the need for several measures including deregulation and a focus on key structural reforms after the country's economic growth slowed for a second consecutive quarter.

Nageswaran attributed the slowdown in India's GDP growth during the second quarter to a combination of global factors, including excess manufacturing capacity in other regions and import dumping in India.

While the GDP growth figures may have been somewhat disappointing, the circumstances present a valuable opportunity to focus on key structural reforms, he said.