New Economy-New Rule
‘New Economy, New Rules’, to signify larger reforms that have transformed the Indian economy, and prospective ones that are expected to usher in a new era of growth. Although, The Prime Minister highlighted various reforms that his government had undertaken to fix the structural problems that plague the economy. In reference to the issue of non performing assets (NPAs), the Prime Minister spoke about the landmark Insolvency and Bankruptcy Code. The Insolvency and Bankruptcy Code 2016, lays down separate time-bound processes to facilitate insolvency resolution. The benefit of the code can be reflected in the form of credit flows, as money recovered from stressed assets can be invested or given as loans elsewhere.
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