Coming to the growth potential in financial services, there is enough data to show that, usually, financial services grow about twice or two and a half times of what the economy, the GDP growth rates.
Entitlements seem to grow with prosperity; not only because they are indexed to inflation or GDP, but also because a prosperous country tells itself it can afford more benefits.
What good is a high GDP if some, or even many, Americans are left behind?
If we focus our economy on improving human outcomes instead of just a topline GDP that is increasingly going to fewer and fewer people, we can see what Americans can do when they're free to unleash their true potential.
GDP has been a con perpetrated upon the poor of the world: a measure of economic activity and not of actual wealth. What it masks is the way in which we transform their natural capital into our consumption through international rules that regard the ecosystem services upon which they rely as mere externalities.
The Government needs to recognise that we live on a planet with finite resources - and start measuring our progress as a society by the quality of our lives, not the expansion of our GDP.
GDP simply measures the circulation of money in the economy, not whether or not the outcome of using that money is positive or negative.
It's not that the regulator doesn't want the banking industry to grow. The growth of the industry has always been in relation to the GDP (gross domestic product) growth.
My belief is India's banking industry will continue to grow at two and a half times the GDP growth rate.
I want to tell mayors, county chiefs and heads of big companies: don't just chase GDP growth; don't chase the biggest profits at the expense of our children and grandchildren and at the cost of sacrificing our ecological environment.
