NEW DELHI: Indian budget 2015-16 targeted to bring gross domestic product (GDP) deficit to 3 percent in next three years.
Indian ambassador to the Sultanate, J. S. Mukul, said that budget is growth-oriented and government policies are being formulated to promote India as an investment destination.
Mukul, who was the chief guest at the event, also discussed the ‘Make in India’ initiative of the Indian government, at a seminar on Indian budget 2015-16, hosted by Muscat Chapter of the Institute of Chartered Accountants of India (ICAI), in association with Modern Exchange.R. Khan, deputy governor of Reserve Bank of India, highlighted the global economic scenario and emphasised on the role of emerging economies in the world and the impact of volatile commodities prices, especially the oil on the world economies and how India can manage those situations.
Eminent tax expert Homi Ranina, a senior advocate of the Supreme Court of India, discussed the fiscal scenario and appreciated the initiatives proposed in the budget. He elaborated about salient features of the Indian budget.
Umesh Kumar, chairman of ICAI Muscat Chapter, emphasised on the implementation of policies for the overall benefit of Indian economy.
Indian GDP growth, which has fallen down from 10.26 per cent in 2010 to 5.63 per cent level, is a cause of concern and the economy needs to be back on track.
