Heavens will not fall if there's minor fiscal slippage: Ficci president

Sandip Somany also said that the Modi government would be remembered because of the IBC

Sandip Somany, the new president of the Federation of Indian Chambers of Commerce and Industry (Ficci), tells Subhayan Chakraborty and Indivjal Dhasmana that the industry is reeling from high-credit costs and there should be a 100-basis-point cut in the policy rate by the Reserve Bank of India’s Monetary Policy Committee. Sanitaryware firm HSIL’s vice-chairman and managing director also says that the Insolvency and Bankruptcy Code (IBC) has enabled lenders get Rs 2.7-2.8 trillion and another Rs 70,000-80,000 crore would be realised in the next few months. Edited excerpts:

 

The Modi government will complete its term in the next few months.