India's economic growth must prioritise human development, says CEA Nageswaran.
Dr. V. Anantha Nageswaran, Chief Economic Advisor, emphasizes addressing aspirations and improving living standards in India's growing economy at the CII Business Summit 2024.
Dr. V. Anantha Nageswaran, the Chief Economic Advisor (CEA), emphasized the significance of recognizing and addressing the aspirations of a growing economy on Saturday, May 18. Speaking at the Standalone Session on 'Co-Creating the Future Responsibly: The Role of Business' during the CII Business Summit 2024, Dr. Nageswaran highlighted the need for an improved standard of living for citizens. He stated, "As India grows from being the 5th largest economy, aspirations also rise along with milestones being crossed. It is important to recognize those aspirations and strive to meet them for a better standard of living." He stressed that economic growth should be a means to enhance human resource development, adding, "Ultimately, economic growth is a means to an end, and it's important to achieve improvement in human resource development."
Dr. Nageswaran also addressed the necessity of coherence and balance in energy policy, particularly regarding energy sources and mobility options. He remarked, "Evolving an internally consistent and coherent policy and balance between conventional and alternative energy sources, between forms of mobility, and between private and public options must be done in a manner that allows for energy security and transition."