The International Monetary Fund (IMF) said on Friday that the corporate tax phenomenon in India is positive for investment in the country. IMF Director (Asia & Pacific Department), Chengyong Ri said that India’s GDP growth is expected to be 6.1% in the current financial year. It could reach 7% in 2020.
The IMF said that investment in India is expected to accelerate due to monetary policy steps and reduced corporate tax. At the same time, India needs to focus on financial integration. Also, the financial situation should ensure long-term stability.