<h1>Chief Economic Advisor Urges Regulatory Reform to Boost Innovation, Trust, and Economic Growth in India</h1> The Chief Economic Advisor emphasized the need for the Indian government to reduce regulations to allow entrepreneurs and households more time and mental bandwidth, fostering innovation and competitiveness. He advocated for a shift from a 'guilty until proven innocent' regulatory approach to 'innocent until proven guilty' and highlighted the importance of trust between the government and non-government actors. The Economic Survey 2024-25 noted India's limitations in producing critical goods, such as solar components, and the risks of reliance on single-source supply chains. Despite these challenges, the Indian economy is on a steady growth path with strong corporate and financial sector balance sheets.