Mumbai
Leading consultancy firm KPMG’s report “India Soars High” notes that even as global economies have to face up to and deal with turmoil, there is an investment positive higher economic growth impetus in India.
It expected India to evolve into a stable and appealing investment destination. Factors contributing are the encouraging macroeconomic policies and conditions, prudent fiscal policy, responsible government spend and a pro-reform government.
The steps aimed to rationalise subsidies is expected to fortify the positive economic outlook for India. It noted that the savings from subsidies coupled with higher tax revenues would enable the government to finance its capital expenditure plan while adhering to fiscal discipline.
It said implementation of unified tax system and healthy economic growth opportunities will raise fiscal headspace for infrastructure investment.
The report added that reform measures initiated by the government have underpinned India’s long term growth potential while the reduction in current account deficit on the back of falling oil prices enabled the RBI to increase foreign exchange reserves, which could act as a cushion against external shocks.
The ‘India Soars High’ report has come out at an apt time, the ‘Make in India Week’.
Note:
(IANS)
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