• Deccan Chronicle
  • Andhra Bhoomi
  • Asian Age
  • ePaper
  •  Auto Refresh
Home

ePaper
Last Updated:05:54 AM IST | Wednesday, Feb 01, 2023
  • Home
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
Menu
  • Home
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
Home > Politics, Plan and Policy > Stable govt to boost economic growth, foreign fund flow: India Inc
Politics, Plan and Policy
Stable govt to boost economic growth, foreign fund flow: India Inc
By  
PTI   , Published : May 23, 2019, 12:35 pm IST | Updated : May 23, 2019, 12:35 pm IST

Riding on a massive Narendra Modi wave sweeping through most parts of India, the BJP seems set to return to power

Veteran industrialist and Godrej Group Chairman Adi Godrej said the new government is expected to take steps to ensure that India's gross domestic product (GDP) growth improves.
Veteran industrialist and Godrej Group Chairman Adi Godrej said the new government is expected to take steps to ensure that India's gross domestic product (GDP) growth improves.

New Delhi: India Inc on Thursday expressed hope that a stable government at the centre will boost growth in the country and lead to higher foreign fund inflows as trends pointed to BJP and allies returning to power with a thumping majority.

Veteran industrialist and Godrej Group Chairman Adi Godrej said the new government is expected to take steps to ensure that India's gross domestic product (GDP) growth improves.

He explained that one such step should be for corporate tax. "Our corporate tax rates are some of the highest in the world, they need to be brought down. The government here, in fact, had promised that corporate tax would be brought down to 25 per cent.

"They have done it for smaller companies but they haven't done it for larger companies. I think that is a very important move and there will be many other moves that will help revive growth," he said.

Former Vice Chairman NITI Aayog Arvind Panagariya echoed similar views. "...It is time for bold reforms and wholly transform the country. The government should create healthy ecosystem for business and entrepreneurs should take responsibility to create high-productivity jobs," he tweeted.

Riding on a massive Narendra Modi wave sweeping through most parts of India, the BJP seems set to return to power as it led in 295 seats while the Congress trailed far behind with 50, according to trends released Thursday by the Election Commission for all 542 seats that went to polls.

BSE Member Ramesh Damani said he expects more foreign fund inflow into India going ahead. "(there will be) policy continuity, that India still has a very large good scale of domestically investible universal companies and the deal flows are more likely to happen now. A lot of the deals that were stuck in the past six months because of the elections, are more likely to happen now, so that itself will attract a lot of FDI. So I think there will be some buoyancy in terms of foreign flow into India, given how this election has panned out," he said.

Surendra Hiranandani, Founder and Director at House of Hiranandani, said he believes a stable government at the centre will further boost the growth in the real estate sector.

"We hope that the new government demonstrates concrete action to push investments, increase growth and generate employment," he added.

end-of
Tags: 
india inc, adi godrej, gross domestic product, gdp, niti aayog, arvind panagariya, narendra modi, bjp, congress
Location: 
India, Delhi, New Delhi
Latest From Politics, Plan and Policy
As per the finance ministry, Finance Minister Nirmala Sitharaman will meet stakehokder groups of 'New Economy: Start-ups, Fintech and Digital Sector' on Monday morning, and financial sector and capital market representatives later in the day. (Photo: File | ANI)

FM Sitharaman to hold pre-Budget meetings with stakeholders beginning today

Brent crude futures were up 19 cents, or 0.3 per cent, at USD 62.47 a barrel.

Oil rises amid optimism over OPEC supply cuts, hopes on US-China trade

Traders are now eyeing next month’s meeting between the OPEC and Russia to determine if the group would deepen output cuts to prop up prices. (Photo: Twitter)

Oil slips as US-China trade deal hopes dwindle

Most Popular

Mukesh Ambani 9th richest on Forbes' real-time billionaires list
Top credit card myths harmful for your financial well-being
Microsoft CEO Satya Nadella tops Fortune's Businessperson of the Year 2019
Employment growth slowed down in last two years: report
GST structure: key challenges and its solutions

Editor's Picks

Income tax e-filers drop by over 6.6 lakh in FY19: Official data
Swiping on your smartphone reveals a lot about you to your social media company
  • Read Financial Chronicle as it appears in print.
  • Subscribe, and get it delivered in the inbox everyday.
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
  • Home
  • About Us
  • Contact Us
  • Terms of Service
  • Privacy Guidelines
  • Copyright © 2019 Financial Chronicle, All rights reserved
Developed & Maintained By Daksham