Budget 2015: For economy to grow at 7.5%, financial sector should grow 20%, says E&Y's Abizer Diwanji

Boosting financial services sector is critical to ensure sustainable growth of the economy and the budget needs to incentivize the growth of the financial services sector, says Abizer Diwanji, Head of financial services, at EY.

Abizer Diwanji. Youtube image

"If the economy needs to grow consistently at 7-7.5 per cent, financial sector needs to have the capability to grow at 20 per cent," Diwanji said.

Also, it is equally critical for the government to offer a roadmap for the recapitalization of public sector banks, for which government needs to reduce its holding in these banks, he said.

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Updated Date: Feb 20, 2015 13:30:06 IST