JAMC - ECONOMIC REFORMS: IMPLICATIONS FOR CORPORATE INDIAIntroduction
Currently one of the fastest growing major economies in the world, India is ready to unlock its full potential. Certain economic initiatives in the recent past have been recognized as game changers that have the potential to propel the country towards significant growth. Some of the initiatives such as Make in India campaign, demonetization and GST could have far reaching impacts and may usher in greater and more inclusive economic development. It is believed that complementary interventions such as demonetization and GST could lead to benefits such as expansion of the tax base, greater transparency, GDP growth and higher foreign investment flows, increased participation in the formal economy, simplification of the tax structure, greater digital financial inclusion, corruption-free regime and greater ease of doing business in India.