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Chief Economic Advisor V Anantha Nageswaran on Friday called for greater individual and institutional responsibility to improve public health, while stressing the need for timely payments to micro, small and medium enterprises (MSMEs) and credit norms suited to their working capital requirements.
Speaking at 21st Annual National Conference (2nd Day) on Inclusive Growth organised by Sa-Dhan, Nageswaran said individuals must take greater responsibility for physical activity, healthy eating, medical screening and limiting smartphone and screen time, adding that changes in social attitudes and daily habits were necessary to build a healthier society. He said the growing consumption of packaged and unhealthy foods, sometimes viewed as a sign of prosperity, required a change in mindset before relying solely on government policy interventions. The Chief Economic Advisor also highlighted the importance of reducing edible oil consumption, creating comprehensive health records and strengthening mental health counselling, particularly for students facing examination-related pressure. He said counselling services should be made available from the high-school level onwards and that human intervention remained important in mental health support, even as artificial intelligence (AI) advances. Nageswaran said responsibility for improving mental and physical health should primarily rest with individuals and institutions, including educational establishments and employers. He also said that the government could support these efforts by developing counselling facilities at the national level, particularly for MSMEs and other organisations with limited resources. On MSMEs, Nageswaran said credit growth in the sector had been performing better than overall bank credit growth and continued to show positive trends in 2026. He also pointed to the government's decision to raise the investment and turnover thresholds for classifying MSMEs on two occasions over the past six years, saying the changes helped businesses expand without the fear of losing benefits associated with their existing category. Highlighting the progress of the Trade Receivables Discounting System (TReDS), he said the value of discounted invoices had increased from around Rs 2,000 crore at the platform's inception to nearly Rs 3.5 lakh crore. However, he said delayed payments remained a major concern for MSMEs, which often faced an unequal bargaining position when dealing with larger businesses and institutions. He noted that some buyers raised objections over the quality of goods or services only near the payment deadline, using them as a reason to delay payments. He called for stronger payment discipline and said government ministries, public sector entities and government procurement agencies should set an example for the private sector. Nageswaran also called for a review of the uniform 90-day norm used in the classification of overdue MSME accounts, noting that businesses across sectors have different working capital cycles. He said India should consider norms suited to domestic business practices and sector-specific requirements rather than follow a uniform global approach, adding that the existing classification system could affect MSMEs' access to credit. (ANI)
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