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Behind The Il&fs Crisis: India Hasn't A Clue How To Pay For Infrastructure | Business Standard News

by business-standard.com posted 2weeks ago 13 views
The infrastructure projects worth building are those that pay for themselves in the long run. : When one of India’s largest shadow bankers -- an institution with 169 subsidiaries that calls itself Infrastructure Leasing and Financial Services -- admitted to a series of defaults last week, Indian markets came close to a crisis. Fearing that a prolonged investment slowdown would intensify, the government invoked a little-known clause in India’s Companies Act and appointed a new board. The rot the defaults revealed is about more than one organization, however, or even this particular moment in the Indian economy’s fragile recovery.

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