'HDFC Bank's Deepak Parekh would have been the FM if I were the PM'

My choice for the Ministry of Finance would be Deepak Parekh, the current Chairman of HDFC Bank. Our economic growth has been sluggish in the past three to four years and if we need to revive the business cycle there could be none better than the man who has revived the banking system of HDFC.

Agnitra Ghosh        Last Updated: May 26, 2014  | 15:13 IST
'Deepak Parekh would have been the FM if I were the PM'
HDFC chairman Deepak Parekh. Photo: Reuters

Agnitra Ghosh
My choice for the Ministry of Finance would be Deepak Parekh, the current Chairman of HDFC Bank. Our economic growth has been sluggish in the past three to four years and if we need to revive the business cycle there could be none better than the man who has revived the banking system of HDFC.

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If we want to reach the level of eight to nine per cent growth again, our banking sector needs a complete overhaul. Deepak Parekh can put an end to the miseries of public sector banks by driving them out of the burden of nationalization. We need a fully developed private sector for financial inclusion which can drive domestic growth as well as help Indian exporters, which in turn would bring down the trade deficit. He can firmly act on policy paralysis, inability of government to push reforms and implementation of GST.

Agnitra Ghosh is a student at IIM Shillong (2013-2015 batch).

An earlier version of this article had the byline of a Business Today writer who sourced it from the B-school student-author.

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