Five recommendations to give Atmanirbhar Bharat a boost4 min read . Updated: 27 Jan 2023, 11:52 AM IST
- The budget should streamline export incentives, ease liquidity constraints, make tax compliance simpler and incentivize newer sectors to give local manufacturing a boost and take India towards becoming a $5 trillion economy
As a fast-growing country that recently overtook the UK as the fifth-largest economy in the world, India has become an intriguing market for overseas businesses and investors. Despite global headwinds, particularly the covid crisis, economic slowdown, currency depreciation, global supply disruptions, soaring inflation and fear of a looming global recession, the Indian economy has been resilient. The World Bank has lately upgraded India’s gross domestic product forecast to 6.9% for 2022-23 from 6.5%. Economists expect that by 2030, India, with its strong domestic market and large talent pool, will become the world’s third-largest economy.
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