Who gets the fruits of India’s economic growth? CEA Nageswaran has an answer
Chief Economic Adviser V Anantha Nageswaran said India’s economic growth will lead to meaningful transformation only if its benefits are shared between workers and businesses.
Chief Economic Adviser V Anantha Nageswaran has emphasized that India's economic growth can only lead to meaningful transformation if the gains are distributed fairly between workers and corporations. In a keynote address at an AIMA event, Nageswaran stressed that fairness is not an act of charity but a necessity for a robust and sustainable market economy.
He argued that both workers and businesses are part of the same economic bargain, with capital entitled to a fair return while workers must share in the prosperity generated by their labor. Nageswaran stressed that fairness is not merely a moral principle but an accounting reality, with both parties receiving a fair share of the wealth created.
He noted that the competitive economies of the world are those that make workers more productive, strengthen their suppliers, and allow for a fair distribution of the value created. Nageswaran outlined several measures taken by the government since June 2024, including an employment-focused budget, trade agreements, efforts to reduce compliance requirements, fiscal consolidation, and improved access to credit.
He stressed that growth becomes transformation when it is fair, emphasizing that fairness should be understood in the plain accounting sense of who receives what from the wealth being created.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
