India Goes Global: Its Expanding Role in the World Economy
International Monetary Fund, 2006 - Business & Economics - 194 pages
In the past few years, India has emerged as a global economic power. It is one of the world's fastest-growing economies, the leading outsourcing destination, and a favorite of international investors. But even with India's impressive recent achievements, the country continues to face considerable challenges as it seeks to sustain rapid growth and extend the benefits to all its citizens. Is India entering into a "Golden Age" or experiencing a period of rapid but ultimately unsustainable growth? The studies in this book examine in detail what lies behind India's recent economic rise and considers the steps needed to build on this success over the medium term.
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7 Reining in State Deficits
MediumTerm Directions for Tax Reform
9 Making Tax Policy ProGrowh
10 Understanding the Growth Momentum in Indias Services
The Case of Indias Textile Sector
AETR agriculture Andhra Pradesh Asian assets average Bank of India borrowing capita income capital central government China coefficient competitiveness convergence corporate tax debt deficit domestic elimination emerging market countries equilibrium exchange rate exemptions expenditure FDI inflows financial development financial openness Foreign Direct Investment FRBMA global growth rate GTAP Gujarat Haryana IMF staff calculations IMF staff estimates IMF Working Paper impact important incentives income tax increase Indian exports industry infrastructure International Monetary Fund Karnataka Korea labor liberalization loans Madhya Pradesh Maharashtra manufacturing mature emerging market measures percent of GDP percentage point potential poverty productivity quotas Rajasthan ratio real per capita recent reduce REER relative Reserve Bank revenue scenario share significant Source state-level Table Tamil Nadu tax rate tax reform tax system tax wedge taxation Textiles and Clothing Thailand trade openness U.S. dollars Uttar Pradesh variables Washington West Bengal World Bank