Singapore, Sep 09 (ANI): EAM S Jaishankar in Singapore said the present government will not shy away from bold decisions. Even in the past the government has taken all major steps and will continue to do so to improve the ability of banks to recover loans. While addressing the press conference, he said, “This is a govt that will not shy away from bold decisions. It implemented GST, biggest tax reform in decades, in complex setting of a central govt & 29 state govts. It has repealed more than 1450 laws since 2014 & 60 since it returned to office 3 months ago.” He also added, “It has introduced Insolvency and Bankruptcy Code, a quick, transparent and market driven approach to resolve stressed assets and release funds and productive capacity for economy. But it is doing something more. It is reforming corporate sector, making it more accountable & responsible. It will, in the long run, make it cleaner, more efficient & innovative. It will improve the ability of banks to recover loans & keep the engine of economy running.” --------------------------------------
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