Finance Minister Nirmala Sitharaman urged the private sector to invest more in India, capitalising on the possibilities presented by the government’s high financing.
“THE STRATEGY HAS TWO GOALS; ONE TO SUPPORT THE ECONOMIC REVIVAL AND RECOVERY AS WE BUILD THE INFRASTRUCTURE OF THE 21ST CENTURY FOR A MODERN INDIA AND THE OTHER TO GAIN FROM THE MULTIPLIER EFFECT AND CROWD IN PRIVATE INVESTMENTS,” SAID BY SITHARAMAN.
She urged the private sector to invest and support the virtuous cycle of prosperity, claiming that investment possibilities exist.
The benefit of a reduced corporation tax rate for new manufacturing units has been extended by the government for another year, until March 2024. Many emerging industries, such as vaccines, genomics, space, and atomic energy, have seen India take the lead. India has demonstrated its proficiency in digital adoption, and start-ups are a catalyst for innovation and new ideas.