Economic Crisis

IL&FS Economic Crisis: A Multi Dimensional Major Economic Threat to Indian Economy

Now understanding the length and the breadth of this economic crisis, we must know a few more points, IL&FS and its subsidiaries have a total debt pile of nearly $12 billion or Rs. 91,000 Crores. On IL&FS, the government says the management had "lost total credibility" given the fact that "huge managerial pay-outs were made despite a looming cash crunch." The government has ordered a fraud inquiry for IL&FS.