Financial Year 2017-18 may pass out as a year of reforms for Indian economy. Remaining provisions of the Real Estate (Regulation and Development) Act, 2016 came into force on 1 May 2017. The transformational Goods and Services Tax (GST) was launched in July 2017. The new Indian Bankruptcy Code (IBC) has provided a resolution framework that will help corporates clean up their balance sheets and reduce their debts. And in another critical move, the government announced a large recapitalization package (about 1.2 percent of GDP) to strengthen the balance sheets of the public sector banks (PSBs).