India, which was ranked 77th among 190 countries in the previous Ease of Doing Business ranking, has shown an improvement of 23 places compared to its position in 2018.
With the tax cuts announced yesterday by Modi government, India’s corporate tax rate on manufacturers is now among the lowest in the world, comparable or even lower than business paradise destinations like Hong Kong or Singapore.
So confounded are the Congress leaders by this decision that they decided to stage a protest outside residence of Nirmala Sitharaman while she is away for an important meeting of GST council in Goa.
Announcing measures to boost growth in export and housing sector, Nirmala Sitharaman has expressed optimism saying that the signs of economic revival are very encouraging
India remains the fastest growing major economy in the world with an annual average GDP growth during the last five years higher than the growth achieved by any Government since economic reforms began in 1991.