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Finance Minister Nirmala Sitharaman leaves for America on a week-long tour, will participate in G-20, World Bank meetings

Finance Minister Nirmala Sitharaman leaves for America on a week-long tour, will participate in G-20, World Bank meetings

India can achieve 11% GDP growth in the current financial year

Finance Minister Nirmala Sitharaman leaves on a week-long visit to the US to attend the annual meetings of the World Bank and IMF as well as the G-20 Finance Ministers and Central Bank Governors (FMCBG) meeting. are gone. During her official visit to the US, Sitharaman is also expected to meet US Finance Minister Janet Yellen.

The Ministry of Finance wrote on Twitter on Monday, ‘Union Finance Minister Nirmala Sitharaman during her official visit to the US beginning October 11, 2021, the annual meetings of the IMF and World Bank, G-20 FMCBG meeting, India The US will participate in economic and financial talks and other investment-related meetings.

As part of her official visit to the US, she will also address investors including large pension funds and private equity companies and invite them to be a part of India’s growth journey.

India can achieve 11% GDP growth in the current financial year

India is expected to register the highest growth rate among the major economies of the world. According to the Economic Survey, India can achieve GDP growth of 11 percent in the current financial year ending in March 2022.

This is the first time since the outbreak of the pandemic that the annual meeting of the International Monetary Fund (IMF) and the World Bank is being held in direct presence. However, the option of participating through video conference is also available for the dignitaries.

Sitharaman will participate in the FMCBG scheduled on October 13, which is expected to clear the global tax deal.

After this deal, India may have to withdraw the Digital Services Tax or other such measures and may have to commit not to introduce such measures in future.

In a major reform in the international tax system, 136 countries including India have agreed to change the global tax norms. Its aim is to ensure that MNCs pay taxes at a minimum rate of 15 per cent wherever they operate.

However, according to the Organization for Economic Co-operation and Development’s (OECD) implementation plan released on Friday, the deal requires countries to remove all digital services tax and other such measures and commit not to introduce such measures in the future. Will be.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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