New Delhi, Feb. 27 -- India's Gross Domestic Product (GDP) is likely to grow between 6.8-7.2 per cent in the next fiscal, said a report by EY Economy Watch.
In order to attain the Viksit Bharat goal by 2047, India may have to increase its tax-GDP ratio largely by improving tax compliance as major tax reforms have already taken place, it suggested.
The report said that major tax reforms were undertaken in the current fiscal year, in particular relating to personal income tax and the GST.
EY India Chief Policy Advisor D K Srivastava said, "In the background of India's extensive bilateral trade agreements with other major economies or economic groups, India's medium-term prospects have brightened up. We estimate India's real GDP growth to b...