The Indian economy is expanding at a fast pace, boosting living
standards and reducing poverty nationwide. Further reforms are now
necessary to maintain strong growth and ensure that all Indians benefit
from it, according to a new report from the OECD. The latest OECD
Economic Survey of India 2017 finds that the acceleration of structural
reforms and the move toward a rule-based macroeconomic policy framework
are sustaining the country’s longstanding rapid economic expansion. The
Survey, launched in New Delhi today by OECD Secretary-General Mr Angel
Gurria and Secretary, Department of Economic Affairs, Ministry of
Finance, Govt. of India, Shri Shaktikanta Das, hails India’s recent
growth rate of more than 7 percent annually as the strongest among G-20
countries. It identifies priority areas for future action, including
continuing plans to maintain macroeconomic stability and further reduce
poverty, additional comprehensive tax reforms and new efforts to boost
productivity and reduce disparities between India’s various regions in
tax consultancy firms in Delhi.
The implementation of the landmark GST reform will contribute to making
India a more integrated market. By reducing tax cascading, it will boost
competitiveness, investment and job creation. The GST reform – designed
to be initially revenue-neutral – should be complemented by a form of
income and property taxes, the Survey said in
tax consultant in India.
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