The country’s economy will likely grow at its fastest pace in two years in the current fiscal year as Prime Minister Narendra Modi initiates reforms to attract investments in the country.
The decision from Modi’s election victory earlier in the year helped India’s economy growth rate increase for the quarter ending in June.
Hope of another plethora of reformatory measures are expected from the new Modi side in terms of foreign capital inflows and other tax reformatory measures which shall be beneficial for the non resident investor to do business in India and plough investments in the strategic sectors in India.
Over the past month, Modi’s government has stepped up economic reforms, opening up the coal industry to private investors and freeing diesel prices to market forces from government subsidies.
Reforms can prove to increase the rally in the stock indices too adding on the strength to the market demand and supply in the coming up times as the experts analyse.