By Shrenik Gandhi
India maintained its tag of being the world’s fastest-growing economy, despite grim global projections in 2019 as per IMF, which also projected India’s growth rate at 7% in 2020. This bears testimony to its potential of spearheading global economic growth. Budget 2020 is therefore Mrs. Sitharaman’s opportunity to make a difference not only to Indian but also the global economy.
One of the key accelerators to this will be enhancing the net disposable income, which is directly proportional to the income tax cuts, affecting the demand for goods and services, finally snowballing into economic growth or slowdown. Budget 2020 should therefore focus on expenditure boost by lowering the personal tax rates, leading to higher savings, to pump the economy.
(Author is Chief Executive Officer & Co- Founder, White Rivers Media)
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