‘Benefits of economic reforms have been uneven in regions’ : PM Modi’s Economic Advisory Council member Sanjeev Sanyal

Shri Sanjeev Sanyal, Honorable Member of the Economic Advisory Council to the Prime Minister, highlighted uneven growth across Indian states and praised the resilience of Budget 2026 at a Chamber seminar.

Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister, addressed a packed seminar today and offered a clear analysis of India’s economic landscape, growth disparities among states, and key insights on the Union Budget 2026.

The Calcutta Chamber of Commerce hosted the event under the chairmanship of its President, Shri Anant Saharia, along with other senior office bearers. A distinguished audience attended the seminar, including industry leaders, diplomats, economists, and entrepreneurs.

Shri Sanyal presented an analytical overview of economic performance across Indian states. He highlighted strong national growth but pointed to uneven regional outcomes. He noted that southern states gained momentum after the 1991 reforms and now contribute more than 30 percent of India’s GDP, while eastern and some northern states continue to trail. He attributed weaker performance in the east to the long term decline of Kolkata as an industrial center and slower infrastructure development. He stressed the importance of building anchor cities to drive regional growth and cited Bengaluru, Hyderabad, and the Mumbai Pune corridor as successful examples.

While discussing Budget 2026 to 2027, Shri Sanyal advocated growth led by capital investment and emphasized fiscal consolidation. He praised the budget’s focus on reducing the fiscal deficit, supported higher infrastructure spending, highlighted asset monetization, and endorsed policies that promote innovation and risk taking. He also underlined the need to accept business failure as a natural part of a dynamic economy.

The seminar concluded with an interactive question and answer session in which Shri Sanyal engaged directly with participants on issues ranging from regional development and tax policy to the future of skilling in the age of artificial intelligence.

President of the Chamber Shri Anant Saharia highlighted that uneven distribution of economic growth creates serious challenges in India’s eastern region. He said, “Regional imbalances continue to pose a serious concern. The benefits of strong economic growth have not reached all areas, and persistent gaps in income, infrastructure, employment opportunities, and social outcomes continue to challenge policymakers and economists alike.”

Shri Anurag Jhunjhunwala, Senior Vice President, moderated the session. The Vice President of the Chamber, Shri Purushottam Agrawal, delivered the vote of thanks. He expressed appreciation to Shri Sanjeev Sanyal for his thought provoking insights and noted that the discussions offered valuable, data driven perspectives on the path ahead for India’s regional and national development.