The Economic Times

Financial sector must fund next gen of enterprises, not just next year's growth: P K Mishra

The Principal Secretary to the Prime Minister P K Mishra said on Wednesday that the financial sector should move beyond financing near-term growth and focus on funding the next generation of Indian enterprises. He called for a shift in the way credit is assessed, from collateral to cash flows. Mishra said India's financial system will need to mobilise large amounts of capital for infrastructure, manufacturing, urbanisation, energy transition and innovation, with different forms of capital required for different needs.