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

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 the trade and industry pass over the tax reduction benefits to the customers, and the tax hikes are not passed over to a higher level. Commenting on the bank NPAs, he added, "In future, we could either consolidate the banks or we could at some stage even have more private sector ownership of the banks and less public sector ownership."When analysing .