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Modi expected to cut taxes in Feb 1 budget

Move aims to boost consumption but risks loss of short-term revenue spurt
Tuesday, January 24, 2017 - 05:50

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Nihal Kothari, executive director at tax firm Khaitan and Co, says: "Economic growth is unlikely to accelerate in the near term on its own so in order to improve its credibility, the government will have to increase the demand for goods and services."

New Delhi

TAXES are anything but certain for Indian Prime Minister Narendra Modi.

Faced with a slump in demand after his shock clampdown on cash, he's expected to lower taxes in the Feb 1 budget to spur consumption. The risk is that a cut will rob Mr Modi of a short-term revenue

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