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2020 Year of Resilience for Economy and People, Says CEA Subramanian at IBLA 2021

Chief Economic Advisor K Subramanian on Friday congratulated all covid-19 frontline warriors for their relentless efforts and expressed confidence in the economy. “The growth-rebound is because of the inherent resilience of the economy. We saw the numbers decline in two quarters because of the pandemic but with the gradual return of normalcy, the real growth potential was displayed,” said Subramanian at CNCB-TV18’s flagship, India Business Leaders Awards (IBLA) 2021.

“I would also like to say that the past year has shown the resilience of the people of the country,” he added. “Many firms have taken the pandemic year as a challenge,” he added.

With regards to the second wave of coronavirus, he said, “the states have learned from past experience that not conducting tests in order to come up with lower infection numbers is not the solution. As far as short term growth prospects are concerned, we are very closely watching the spread of the virus that has re-emerged in some states.”

The CEA was tight-lipped on the bank insolvency act but expressed confidence on the already overshooting tax collection targets for the ongoing financial year.

The India Business Leader Awards have been acknowledged as the gold standard of recognising business excellence in India. These coveted awards have brought together India’s most influential policymakers and business leaders to chart out an agenda for action and change.

IBLA awardees are determined after a rigorous process followed by internal teams and external jury to find the very best.

The jury this year consisted of former National Development Bank President, KV Kamath, Chairman of RPSG Group, Sanjiv Goenka, CMD of GCPL, Nisaba Godrej, CEO and MD of TCS, Rajesh Gopinathan, CEO India of Standard Chartered, Zarin Daruwala and Chairman of SBI, Dinesh Khara

Over the years the IBLA jury has been a collective of India’s most respected business leaders and chaired by the doyens of industry from NR Narayana Murthy to Deepak Parekh, Uday Kotak, Aditya Puri, Arundhati Bhattacharya, among others.

The IBLA jury weighs in on each category and arrives at the winners, post-debate and discussion.

The jury had an even more arduous task this year – 2020 has been a year of extreme volatility, unprecedented disruption, also a celebration of the human spirit to battle the odds. The jury looked for leaders who have steered their organisations through choppy waters and done so with impeccable courage, conviction and integrity.

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