India plans to take more steps to boost consumer demand including injecting liqu...
NEW DELHI - India plans to take more steps to boost consumer demand including injecting liquidity through banks and simplifying personal taxes, a top government economic adviser said on Friday, in a bid to raise economic growth from six-year lows.
“In the short-run, we are taking steps to increase consumption so that anticipating that consumption, investment also goes up,” he told Reuters in an interview. That landmark move has raised hopes that the government might consider similar cuts to personal taxes to put more money into the hands of consumers and especially the middle class who form the core of Prime Minister Narendra Modi’s ruling group.
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