Next-level tax & GST reforms, Rs 1 lakh cr to make India a global innovation hub
The cabinet secretary has called a meeting with officials of key economic ministries on Friday to work out the economic agenda for the first 100 days of the new government that will take charge after the general election.
Officials from the ministries of finance, corporate affairs, commerce and industry, and micro, medium and small enterprises, among others, are expected to attend, according to people in the know. Rationalisation of goods and services tax (GST) rate structure, changes to the Insolvency and Bankruptcy (IBC) and immediate challenges before the economy could figure in the discussions, they said.
India's economy is expected to have grown 7.6% in 2023-24, according to the first advance estimates released on February 29. The country faces risks from volatile crude prices, tepid global demand and deteriorating geopolitical situation, said the people. The secretaries of all the ministries and departments concerned are expected to give detailed presentations at the meeting.
