Structural reforms News
He said that the reason behind India starting off with multiple rates under was that the country had 17 taxes and 23 cesses, which were all amalgamated into the GST.
The report said that structural reforms take long time of 5-10 years to reflect in growth rate or reviving the stranded projects.
According to findings by the financial service major, government spending growth is slowing down sharply, while half of the population is seeing weak income growth.
Government must focus on structural reforms to put the country on the path of faster economic growth, as the "several reforms" implemented so far may not be enough in a fast-changing world, says a new research report.
China is not the only economy in need of structural reforms as they are fundamental for the success of every G20 economy, IMF Managing Director Christine Lagarde said on Friday.
The IMF said there are several risks to economic stability, from both domestic and external factors.
In the global economy, "a very strong" euro would make it difficult for countries such as Spain and Portugal, which adopted significant reforms during the economic crisis, to "harvest the fruits of those reforms, in exports, for example," Merkel told a congress for family-run businesses in Berlin.
According to the global financial services major, investment and consumption uptick is likely to result in a growth pick-up from 7.3 percent in 2014-15.
According to global financial services major Citigroup, structural reforms, rate easing and range-bound commodity prices are key for over 8 percent GDP growth.
The Economic Survey had projected a growth of 8.1 to 8.5 percent in the current financial year.
It is unwise to demonise BRICS grouping since these countries are pushing forward structural reforms to promote growth in the face of economic turbulence, China said Wednesday.
Pitching for structural reforms to reinforce investor confidence, RBI on Monday said falling inflation and political stability have helped check the macroeconomic vulnerabilities, while retail inflation is expected to stabilise near 6 percent level in 2015.
The planet's poorest nations like Ethiopia, Malawi and Angola have failed to cash in on strong economic growth due to a lack of structural reforms and left them wallowing in poverty, the UN warned Thursday.
India's economic growth is expected to pick up to 5.6 percent in the current fiscal on account of structural reforms being rolled-out by the government, Fitch Ratings said on Tuesday.
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