Govt will contain crisis to avoid adverse impact: FM Arun Jaitley

Finance Minister Arun Jaitley on Thursday said the government is determined to contain the crisis at the IL&FS at the earliest so that it does not leave any adverse impact.

The crisis has triggered concerns of liquidity squeeze in the NBFCs and mutual funds.

“The government is determined to make sure that since this is an internal factor to India this should be contained quickly so that no adverse impact of it is left,” Jaitley said.

He said there has been a “significant impact” on the markets in last few days on account of the contagion effect that took place on account of uncertainties over IL&FS.

“The government has taken a decisive step in that regard, replaced the board and of course under the new board now it would take various decisions,” he said.