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Tax, policy rate cuts will spur recovery in 2020: Report
TIWN
Tax, policy rate cuts will spur recovery in 2020: Report
PHOTO : TIWN

New Delhi, Dec 2 (TIWN) Lower lending rates following a series of policy rate cuts by the Reserve Bank of India and a sharp cut in the corporate tax rates will spur a recovery in India next year, a report said on Monday.

"The turnaround is likely to show up beginning in the October-December quarter, though largely because of a low base in the year-earlier period. A genuine recovery should start in 2020," Bloomberg global outlook report said on Monday.  The report also said that the gross domestic product growth is expected to rise sharply in fiscal 2021 ending in March, to 7.1 per cent, from an estimated 5.7 per cent in fiscal 2020.

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