With over Rs11 lakh crore debt, project investments worth Rs.32.7 lakh crore and cost overrun of Rs14.35 lakh crore is at stake, the current Insolvency and Bankruptcy Code 2016 is a sigh of relief for India's financial institutions.
The economy is huffing and puffing. Its health report indicates a serious infection. The economy has been inflicted with two rounds of disruptions which have caused it to sputter; Demonetisation and GST. Before the GDP numbers were recalibrated, the GDP numbers had turned in sub six percent figures.
Centre for Monitoring Indian Economy (CMIE) expects output of petroleum refiners to rise between 3-7 percent in the remaining three months of 2012-13. In a recent report, the research body said the refiners may process around 18.5 million tonne of crude oil in each of the remaining months of fiscal 2012-13.