By Dr. R. Balasubramaniam
There is so much talk today about the GDP and the economy not doing well across the political and business spectrum in the country. Discussions about the falling sales of cars, the sluggish real estate sector and NPAs of banks dominate the headlines. If you look at the narrative around the world and not just India, the current economic order is failing and ‘for-profit’ behaviour has taken away everything that can be sustainable. There is an urgent need to metamorphose into a new economic order where we move from a ‘for-profit’ mindset to that of a ‘for-benefit’ one. We need to create a new economic order that draws the public DNA from the Government sector, the efficiencies of the corporate sector and the social conviction and commitment of the civil society sector. It will have to look at revenue generation not as evil but as necessary to ensure benefit to all stakeholders.
