• Linkdin

India's corporation tax cut to help revive investment: IMF

22 Oct '19
2 min read
Pic: Shutterstock
Pic: Shutterstock

Supporting India's decision to reduce corporate income tax, the International Monetary Fund (IMF) said the step has a positive impact on investment but it should address continued fiscal consolidation and secure long-term stability of the fiscal conditions. "We believe India still has limited fiscal space so they have to be careful," a top IMF official said.

Following a marked slowdown in the last two quarters in India, the economy is expected to grow at 6.1 per cent this fiscal year, picking up to 7.0 per cent in 2020, Changyong Rhee, director of IMF’s Asia and Pacific department, said last week in Washington DC.

Anne-Marie Gulde-Wolf, deputy d of the department, urged India to address the non-banking financial sector issues, according to a news agency report.

"While there have been improvements that have been put in motion, including efforts to recapitalise the state banks, the issue of non-bank financial institution remains partly unresolved and regulatory equity is one of the issues that needs to be achieved," she said. The government is aware of it, she added.

India overall has a fairly high level of debt and fiscal consolidation needs to be a priority, she said replying to a question.

Fibre2Fashion News Desk (DS)

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search