On credit offtake, Khara said, “we are observing that credit growth has been very broad based. We are seeing a health trend and are quite hopeful it will continue going forward as well.”
As much as 97.50 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned, the release said, adding that these notes continue to remain legal tender.
In an interview, Malhotra said while the corporate tax cut in 2019 has resulted in about 57 per cent of the corporate tax mop up now coming from the reduced bracket, he is hopeful of a similar traction from the new personal income tax regime that was tweaked last year.
Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said that the government will adopt a more “gradual” and “calibrated” disinvestment approach, with its major focus being “wealth creation”.
A relook at BITs comes at a time when India is pursuing economic integration with western nations such as the United Kingdom (UK) and the European Union through free trade agreements and investment treaties.