Delivering Timely Solutions

The Group of Seven (G-7) developed nations held their summit recently in UK. One of the issues discussed during the summit was introducing the concept of the Global Minimum Tax (GMT).

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its bi monthly meeting last week in the backdrop of the Covid19 pandemic.

As per the GDP data released by the National Statistical Office (NSO), the Indian economy after being in the red zone for the first two quarters returned to the green zone in Q3 of FY21 by posting a nominal growth of 0.4%.

India’s growth story started about four decades back but picked up momentum from the late 1990s. This period coincided with the IT boom. The Y2K problem, among others, catapulted India as a major software exporter.

The incubation cells at the various IITs and other institutions have played a major role in evolving the eco system for start ups. Over the years quite a few of these start ups have become unicorns.

The Indian economy had been showing signs of slowdown over the past couple of years. Further, the prolonged lockdown to arrest the spread of the Covid-19 pandemic severely affected the functioning of business and industry.

The National Statistical Organisation (NSO) recently published India’s GDP data for April – June quarter of FY 2020-21.