The Insolvency and Bankruptcy Code (IBC) mechanism has worked well to support ‘Ease of Doing Business’ in India by easing exits with time-bound resolutions for the companies, the Economic Survey 2023 , which was tabled in Parliament on January 31, has said.
“These strengths are helping the financial system absorb external spillovers, tightening global financial conditions and high volatility in financial markets,” the survey said.
The Economic Survey details the country’s performance over the last year while underlining key challenges that lie ahead along with measures to deal with them. It essentially lays the groundwork for the presentation of Union Budget.
