NEW DELHI: Recent reductions in income tax burdens, benign inflation, lower interest rates and a favourable outlook for agricultural production are expected to support rural incomes and bolster overall consumption in India, according to a new report.
New Delhi, July 12 (IANS) Recent reductions in income tax burdens, benign inflation, lower interest rates and a favourable outlook for agricultural production are expected to support rural incomes and bolster overall consumption in India, according to a new report.
Given that private final consumption expenditure constitutes nearly 60 per cent of India’s GDP, it has a strong bearing on India’s overall growth outlook.