New Delhi, Dec 1 (UNI) The government today emphasised the need for an effective system for efficiently using the resources to increase overall productivity of the economy.
''Resources of a country are scarce and hence must be continuously rechannelised to efficient use to increase the overall productivity,'' Corporate Affairs Minister Prem Chand Gupta said here at the launch of training programme on insolvency and restructuring.
He said an effective system must be in place for providing a firm framework for restructuring, rehabilitation or winding up, depending upon the needs of the situation.
The programme was jointly organised by the Institute of Company Secretaries of India and INSOL International.
The Minister added that there must be appropriate procedures in place for start up and exit of a business.' UNI