No doomsday for Dalal Street: Here’s how Modi Cabinet helps Indian markets during crisis
While everyone is busy imagining how doomsday would look like in the economy,
Over the past 11 days, this support from the
Modi government always recharges the
A few measures adopted in the recent past include eased FDI and 7 th pay commission, while a landmark tax reform is under the way to be implemented.
Some recent situations that demanded such actions were the exit of
Here's a look at how all this has worked, as per ET:
As soon as Raghuram Rajan announced his intention to leave RBI after this term, the government unveiled a slew of FDI reforms, allowing up to 100% FDI in aviation, 74% in pharma and 100% in defence.
Regarding Rajan’s replacement, since the economy depends a lot on this post, there are reports that the new RBI governor would be announced in July, while earlier it was being said that the announcement would happen only in August.
Last but certainly not the least, the push that the government is giving to GST, which is long awaited, there are hopes for further boost in the economy.