New Delhi, Jan. 31 -- The corporate sector has come under flak for not generating enough employment opportunities despite substantial surge in their profits saying to secure long-term stability in any economy, a "fair and reasonable distribution of income" between capital and labour is imperative.
Corporate profitability soared to a 15-year peak in FY24, fuelled by robust growth in financials, energy, and automobiles. Among Nifty 500 companies, the profit-to-GDP ratio surged from 2.1 percent in FY03 to 4.8 percent in FY24, the highest since FY08. Large corporations, especially in non-financial sectors, significantly outperformed their smaller peers in profitability, observed the Economic Survey 2024-25 tabled in Parliament on Friday.
"How...