GST, IBC benefits to be felt next year: DIPP secretary Ramesh Abhishek

As more companies go towards resolution, the recovery rate will improve and our rank will progress, he added

Department of Industrial Policy and Promotion Secretary, Ramesh Abhishek, tells Subhayan Chakraborty that lower rank in the two crucial categories of paying taxes and resolving insolvency will only improve in the following years when the trickle-down benefits will be realised. Edited excerpts: 

In two crucial categories, paying taxes and reducing insolvency, the government was confident of securing a better ranking. But the opposite happened. 

On these two categories, we were confident of securing a good rank last year and the year before as well. But the World Bank did not receive a good feedback. The GST was introduced in July but the