Modi 3 0: Growth Sequel Starring Jobs, Investment indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The full budget, likely to be presented early in July, will detail specific measures toward this end. "The focus would be to promote labour-intensive growth that will create jobs, with continued emphasis on macroeconomic stability," a top government official aware of the details told ET. A host of measures on startups and taxation - including inverted duty structure correction, along with GST rate rationalisation - is under discussion, said the person cited above.
Reforms and incentives are attracting international investors looking to diversify away from China amid its intensifying rivalry with the US. But India still has a way to go to catch up to its neighbour to the north.
After hiking its repo rate by a cumulative 250 basis points - much less than most of its major peers - the RBI has kept it untouched since February 2023 as inflation largely remained within the bank s 2%-6% target range.