Stop personalising profits, socialising losses: CEA to India Inc


News Date : 2019-08-22

News Author : Business Standard

News Link : https://www.business-standard.com/article/economy-policy/stop-personalising-profits-socialising-losses-cea-to-india-inc-119082101488_1.html

News Description :

Chief economic advisor K Subramanian Wednesday called for a "mindset change" in the private sector by desisting from the tendency to grab profit and socialise losses and also seek sops in times of stress. He also said it will be only investment and not consumption that will help the economy grow, explaining that the latter boosts an economy with a higher per capita income of say $10,000 or more. The comments come amidst increasing criticism both from the corporate world as well as by analysts and economists outside the government about the issues plaguing the economy, and many a sector like the auto sending SoSes for help.

News Document : Open File

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