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Creaton of employment alone cannot be the only parameter for growth in this country. Tax collection is also an important apect as it is required to mobilise government finances. India should follow Kautilya’s principles. The ancient economists view on tax system was that it should be fair, and tax rates should reflect people’s ability to pay in terms of wealth or income or sales revenues. India’s Top 500 companies’ contribution to the ex chequer has been remakable over the years.

Over the last 10 years, the cumulative accrual to the Government Exchequer in the form of taxes comprising excise duty, income tax, dividend distribution tax, value added tax, entry tax, octroi and other State levies isnearly Rs. 1,00,000 crores[YJ1]. The role of D&B’s Top 500 Companies is underscored by the fact that in the latest edition contribute more than one third of India’s Gross Total Tax Revenue. Top 500 companies’ contribution is not just limited to paying taxes but also building investor confidence. In the latest study, equity dividend paid has almost doubled from Rs 556,506.5 mn in FY08 to Rs 1,103,992.3 mn in FY13, thereby showing a CAGR growth of 15% for the mentioned time period. Equity dividend as % of PAT (profit after tax) has gone up from 22.5% in FY08 to 29% in FY13. This clearly implies that the Top 500 companies, rather than accumulating their profits, prefer distributing it to the investors through dividends. Thus, Top 500 companies play a key role at the macro level i.e. government as well as at the micro level i.e. retail investors.

Building brand India has been on all the government agendas so far. One of the factors on which India has managed to make its presence felt in the global arena is on the basis of its export strength. Exports, in fact have been one of the largest drivers of India’s economic growth over the last few years. It is a positive sign that India’s exports which were concentrated on the developed countries for several decades are now changing their focus.

Historically, India has focused on exports largely to manage Balance of Payments, and in many ways it has been a residual sector in economic planning. In today’s global economy, exports must become one of the cornerstones of India’s economic planning and growth over the coming decades. Going forward, the importance of exports will only increase.

D&B’s Top 500 Companies in the latest edition account for, on an average, 30% of India’s total exports for last five years. India’s export basket has also been diversified. D&B Study shows that India’s overall exports have grown at a CAGR of 16.3% from FY09-13. For the same period, exports of Top 500 companies outpaced the country’s exports with 19.5% CAGR.

After having discussed the impact of Top 500 Companies’ impact on employment, its contribution to the ex-chequer and investors by way of taxes and dividends respectively, exports, we finally come to the important aspect that is banks and the financial systems that have been crucial to the country’s economic growth. In 2008 when the global economy went through its worst financial crisis, India was the only country that stood straight.

Banks remain the pillars of a robust financial institutional system in India. The sector especially plays an important role in present economic scenario of a country. The Indian banking sector has seen tre