Banks may have consolidation or more pvt sector ownership in future: CEA

Arvind Subramanian flays ratings agencies for adopting inconsistent standards

Infrastructure projects needs to look at other forms of financing, rather than from the banks, and the public sector banks should have better governance in future, said Arvind Subramanian, Chief Economic Adviser, Government of India. He was commenting on the concerns on the Non Performing Assets (NPA) level in public sector bank compared to lower NPAs in the private banks.

Speaking to the students of various institutions after delivering a talk on 'Economic Survey 2016-17: How India Surprises' at Indian Institute of Technology, Madras, he said that the anti-profiteering clause under the Goods and Services Tax (GST) regime would ensure that