Stories
CEA Nageswaran Urges Lifestyle Shifts, MSME Payment Discipline And Tailored Credit
- •Chief Economic Advisor V Anantha Nageswaran emphasized the need for individual and institutional responsibility to improve public health and combat unhealthy dietary habits.
- •He advocated for reduced consumption of packaged foods and edible oils, alongside enhanced mental health counselling starting from high school.
- •Nageswaran noted strong credit growth for MSMEs but stressed that delayed payments from larger entities remain a critical challenge.
- •He called for better payment discipline across government and private sectors, suggesting the implementation of sector-specific credit norms instead of uniform 90-day rules.
Key Questions Answered
Chief Economic Advisor V Anantha Nageswaran called for a review of the uniform 90-day norm used for overdue MSME accounts. He suggested that India should adopt credit and NPA classification norms tailored to domestic business practices and sector-specific cash flow patterns rather than following a globally uniform approach.
Highlighting the progress of the Trade Receivables Discounting System (TReDS), CEA Nageswaran stated that the value of discounted invoices has surged from around Rs 2,000 crore at its inception to nearly Rs 3.5 lakh crore.
Nageswaran urged individuals to take greater responsibility for physical activity, healthy eating, medical screening, and limiting screen time to build a healthier society. He also emphasized reducing edible oil consumption, creating comprehensive health records, and strengthening mental health counseling starting from the high-school level.
