The regulatory tool seeking to minimise damage from the menace of mounting NPAs was given new teeth, but it will be a long and hard road to recovery
“I don’t see it (as stalling the process) that way,” says Rakesh Bharti Mittal, president, Confederation of Indian Industry (CII). “With any major reform or policy initiative brought in by the government, there are going to be implementation issues. There would be factors that may not have been envisaged when the policy was put in place, be it in the case of GST or the IBC. What we need to see is if it is good for the country. And the answer is a resounding yes as otherwise, we are looking at job losses and money going down the drain.”
This story is from the April 30, 2018 edition of Outlook.
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This story is from the April 30, 2018 edition of Outlook.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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