Deregulation will lead to more employment: CEA Anantha Nageswaran

V. Anantha Nageswaran, Chief Economic Advisor (CEA), says that boosting domestic income generation, as well as production, are the only ways to combat trade restrictions. The Economic Survey 2024-25, presented in the Parliament on January 31, made a case for reducing the regulatory burden. The pitch found an echo in the Union Budget a day later. Donald Trump’s re-election as the 47th US President was followed by a series of levies and tariffs on other countries. He imposed 25% tariffs on imports from Mexico and Canada, and an additional 10% on China. He has also said the US would impose 100% tariffs on BRICS nations, including India, if they move to replace the US dollar in global transactions.