IBC to end crony capitalism in India: Niti Aayog CEO Amitabh Kant
Crony capitalism in India will come to an end with the new bankruptcy code though it was facing some teething troubles, Niti Aayog CEO Amitabh Kant said here today. "Insolvency and Bankruptcy Code (IBC) will ensure that the world of crony capitalism comes to an end. Earlier, you could borrow and not repay.
Amitabh Kant said banks are going bust due to NPA and government has to bring in some discipline as it is public money. Image source: PTI