Their success in doing so will be crucial to our future economic performance. BIS Review 28/1998 ˝  -2-  The importance of productivity growth Why this emphasis on improving productivity? Whether viewed from the perspective of an individual firm or of the economy as a whole, it is almost impossible to overemphasize the importance of rising productivity for overall performance and prosperity.
Ind-AS has been implemented for all listed companies (other than banks) in India including Non-Banking Financial Companies (NBFCs) having net worth of more than ₹ crore. IndAS is a principle-based standard as against the previous accounting standards, which were more prescriptive.