Fineprint Vol.1 2023

India’s Chief Economic Adviser, V Anantha Nageswaran, exudes confidence in India’s economic fortitude despite potential spikes in US interest rates. He asserts a sustainable growth rate of around 6.5%, buoyed by burgeoning private capital. Nageswaran underscores energy vulnerabilities amid climate shifts and stresses economic diversification into manufacturing and services. Optimistically, he predicts fiscal health improvements, anticipating better debt ratios. Meanwhile, the Reserve Bank of India intensifies efforts to popularize its digital currency, e-rupee, aiming for broader adoption through innovative features and interoperability with UPI. Additionally, the RBI aims to slash cross-border remittance costs to bolster financial inclusivity. Enhanced GST compliance drives robust revenue growth, signaling strides in tax regulation effectiveness.
Read more in our newsletter,  including news about GST, Direct Tax, Regulatory, Audit & Assurance, stay updated.