Govt considers tax reductions as part of $6 billion consumer boost

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Govt considers tax reductions as part of $6 billion consumer boost - Business Standard

Quick Summary:

Finance Minister Nirmala Sitharaman is holding pre-budget consultations with stakeholders, including economists, trade unions and industry chambers this week.

Talks are underway to raise the annual cash payment to small farmers to 8,000 rupees from the current 6,000 rupees, they said.

Private consumption — which includes spending by households and businesses — expanded 4% in the past fiscal year, less than half the 8.2% pace of economic growth in the period.