India Inc thrived, witnessed robust growth in 10 yrs of Manmohan Singh govt

The last five-years however has been the best for corporate India in terms of net profit growth thanks to margins expansion and gains from a cut in corporate tax in September 2019

Corporate India witnessed robust revenue and profit growth during the two-term tenure of the Manmohan Singh-led government, but the momentum slowed sharply during the first term of the Narendra Modi administration before witnessing a recovery in the post-Covid period. 

While the last five years have been a standout period for net profit growth, thanks to margin expansion and a corporation tax cut in September 2019, revenue growth remains muted compared to the Singh years when it was in double-digits.  

Listed companies across sectors in Business Standard’s sample recorded a compound annual growth rate (CAGR) of 19.3 per cent in net