New Delhi, Jan. 31 -- Reducing the regulatory burden for micro, small and medium enterprises (MSME) will help small businesses become more efficient, reduce costs and unlock new growth opportunities, according to the Economic Survey 2024-25.

"The faster economic growth that India needs is only possible if the union and state governments continue to implement reforms that allow small and medium enterprises to operate efficiently and compete cost-effectively," the survey, which was tabled in parliament on Friday, said, adding that regulations increase the cost of all operational decisions in companies.

Noting that the government has implemented several policies and initiatives over the past decade to support and promote the growth of MSME...