Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
So many checks, safeguards, independent directors, professional auditors, regulators, nothing beeped a warning sign till the cheques started bouncing. Ineptitude of the highest order. ILFS’ business model is broken. It will have to be dismantled, without a sense of panic, but with as much urgency in disposal of assets, essentially projects, as a sluggish market can absorb. Most Indian corporates are too stressed out to do much buying. One more painful reminder that Indian infrastructure is a difficult space to navigate.
So many checks, safeguards, independent directors, professional auditors, regulators, nothing beeped a warning sign till the cheques started bouncing. Ineptitude of the highest order. ILFS’ business model is broken. It will have to be dismantled, without a sense of panic, but with as much urgency in disposal of assets, essentially projects, as a sluggish market can absorb. Most Indian corporates are too stressed out to do much buying. One more painful reminder that Indian infrastructure is a difficult space to navigate.