From reforms, jobs to resilience: CEA's key messages before Budget 2026
India Today
As policymakers finalise the Union Budget 2026, CEA V Anantha Nageswaran has shared key insights on how reforms, employment growth and economic resilience can keep India on a steady path.
As India prepares for the Union Budget 2026, Chief Economic Adviser (CEA) V Anantha Nageswaran has painted a picture of steady reform, rising job creation and cautious optimism in a world marked by geopolitical uncertainty. Speaking to India Today, Nageswaran said India’s economic strategy is not driven by short-term pressures but by a longer commitment to reform at both the Centre and state levels.
According to him, this combined push is what gives confidence that India’s growth story remains intact, even as global conditions stay volatile.
Nageswaran said the government’s reform journey goes beyond headline tax changes. While reforms in indirect and direct taxes remain important, he stressed that changes in processes are equally important.
He pointed to deregulation at both the Union and state levels, including reforms in environmental clearances and changes in how infrastructure projects are awarded. For instance, the Ministry of Road Transport has moved away from awarding contracts solely on the lowest bid and now places greater emphasis on technical quality.
“These steps show that the government understands the importance of both policy and process reforms,” he said, adding that this was one of the key reasons the Economic Survey upgraded India’s potential growth outlook.
States, he said, have also played an active role. After completing an initial round of deregulation, many states are now entering a tougher second phase. “Both the Union and state governments are equally motivated engineers of this reform journey,” he said.
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