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Economic slowdown due to structural changes: Amit Mitra

Monday, September 23, 2019, 7:32 PM

Economic slowdown due to structural changes: Amit Mitra

West Bengal Finance Minister Amit Mitra said that the current slowdown in the economy is due to "structural" changes and not "cyclical". He said the structural changes have been ushered in due to demonetisation and "faulty" GST implementation along with the collapse of IL&FS which crippled the NBFC sector. Regarding GST, he said that collection of the indirect tax is not meeting its target.

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Govt may announce relief measures for NBFC sector

Thursday, August 8, 2019, 8:35 PM

Govt may announce relief measures for NBFC sector

The government may soon announce relief measure for the NBFC sector, sources told ET NOW. The sector has been struggling with liquidity crunch since IL&FS collapsed in late 2018. The fall of the group pushed up borrowing costs for rivals and has sharply impacted consumer spending and stung sectors such as real estate and autos that are big drivers of consumer demand.

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NBFC crisis: Record Rs 1.1 lakh crore loans due over 90days

Thursday, June 20, 2019, 9:46 AM

NBFC crisis: Record Rs 1.1 lakh crore loans due over 90days

Facing a record amount of debt that's about to mature, non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite. The shadow lenders, which have been under increased strain after the collapse of IL&FS Group last year, have a record Rs 1.1 lakh crore of local-currency bonds due next quarter, according to data compiled by Bloomberg.

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