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TMI BlogRoadmap to making India a $5 trillion economyX X X X Extracts X X X X X X X X Extracts X X X X ..... Roadmap to making India a $5 trillion economy - News and Press Release Dated:- 1-8-2023 - News - The Government s roadmap for making India a $5 trillion economy comprises focussing on growth at the macro level and complementing it with all-inclusive welfare at the micro level, promoting digital economy and fintech, technology-enabled development, energy transition and climate action and relying ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on a virtuous cycle of investment and growth. The Government s Road Map was put into effect in 2014. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in written reply to a question in Rajya Sabha today. The Minister stated that major reforms including Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC), a significant reduction in the corporate tax rate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the Make in India and Start-up India strategies, and Production Linked Incentive Schemes, among others, have been implemented. Giving out more information, the Minister stated that the Government has also focused on a capex-led growth strategy to support economic growth and attract investment from the private sector, increasing its capital investment outlay substantially during the last three ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... years. Central Government s capital expenditure has increased from 2.15 per cent of GDP in 2020-21 to 2.7 per cent of GDP in 2022-23. The Minister further stated that the Union Budget 2023-24 has taken further steps to sustain the high growth of India's economy. These include a substantial increase in capital investment outlay for the third year in a row by 33 per cent to ₹10 lakh cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore (3.3 per cent of GDP). Direct capital investment by the Centre is also complemented by Grants-in-Aid to States for the creation of capital assets. The Effective Capital Expenditure of the Centre was accordingly budgeted at 13.7 lakh crore (4.5 per cent of GDP) for 2023-24. This strong push given by the government is also expected to crowd in private investment and propel economic growth, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Minister stated. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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