India, Jan. 31 -- The Economic Survey, tabled by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman, says that by reducing excessive regulatory burdens, governments can help businesses become more efficient, reduce costs, and unlock new growth opportunities.

Regulations increase the cost of all operational decisions in firms, the Economic Survey adds.

Recognising that the government has implemented several policies and initiatives over the last decade to support and promote the growth of MSMEs, the Survey says some challenges in the regulatory environment remain.

It says regulatory compliance burden holds back formalisation and labour productivity, limits employment growth, chokes innovation and depresses growth.

The S...