India relaxes its fiscal deficit target, raising spending and slashing taxes as it seeks to attract foreign investment and increase consumption in wake of prolonged economic slowdown
Prime Minister Narendra Modi's right-wing government has been trying desperately to revive the economy, which has flagged for several quarters, with per capita consumption falling for the first time in four decades.
She also announced that companies would no longer have to pay dividend distribution tax, terming it a "bold move meant to attract foreign investors". She also revealed New Delhi was seeking to shed its 100-percent stake in the country's largest insurer, Life Insurance Corporation, to generate revenue.
New Delhi has said it expects the economy to recover soon, pegging growth at 6.0 to 6.5 percent for the financial year 2020-21.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
India's budget offers tax relief amid slow economic growthIndia’s government offers relief to taxpayers and vowed to spend billions to double farmers’ incomes and upgrade infrastructure, health care and industry to boost the country's lowest economic growth in a decade.
Baca lebih lajut »
India’s Slowing Economy Puts Modi’s Coming Budget on the SpotWith economic growth flagging, India’s government will offer a budget that increases spending, pushes back deficit targets and seeks new revenue from sales of government companies and higher tariffs.
Baca lebih lajut »
India's budget likely to increase spending to spur growthIndian Prime Minister Narendra Modi's government is likely to increase stat...
Baca lebih lajut »
U.S. Economic Growth Slowed In 2019 To 2.3%The U.S. economy grew 2.3% last year, the Commerce Department says. That's a slowdown from the previous year — and short of the 3% growth target set by the White House.
Baca lebih lajut »
Dow Drops 600 Points on Global Growth ConcernsFresh economic data and the viral outbreak in China fanned worries about global economic growth, weighing on stocks around the world to end the week.
Baca lebih lajut »