Though many Indians from the corporate world have found a place in the global billionaires’ list, the matter of concern is that how many people have been able to cross the below-poverty-line post economic reforms in the country, Prabhu Chawla, Editorial Director, The New Indian Express Group, said on Friday.
He was delivering a special address on the topic ‘Creating a Balanced Business Model for People, Planet and Profit’ at the 33rd Annual National Management Convention of the Kerala Management Association here.
Equitable distribution of growth is not happening in the country, he said.
“There is no balance between people, planet and profit in India. The real result of the past 20 years of reforms in the country was creation of wealth for the rich and filth for the poor. The corporate sector in the country enjoys tax benefits worth `5 lakh crore annually. In the last 10 years, the amount comes to `50 lakh crore. Though this much mercy was shown to the corporate sector, how much impact had happened via this for employment generation and poverty eradication is a subject that should be seriously discussed,” he said.