With this background, the decision of the Indian Government to not extend the concessional tax regime for newly set up manufacturing companies was a major setback.
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.
Despite the Survey’s positive tone, the Sensex and Nifty 50 closed in the red, falling nearly 8% in a matter of five trading sessions from their January 21 life–high.
Lucknow Municipal Corporation’s ₹200 crore bond, listed on BSE, has seen an oversubscription of 4.5 times and joins 8 Indian cities, together raising an aggregate of ₹3,690 crore.
