Economy Grew Faster at 5.1% in Q4: Economists Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday indicated FY23 growth may have exceeded the official estimate of 7% on the back of strong growth momentum in the March quarter.
Investors from 21 Nations Exempted from Angel Tax India exempted investments by non-resident entities such as sovereign wealth funds and pension funds from 21 countries from the so-called ‘angel tax’, leaving out Mauritius, Singapore, and UAE among others that account for significant equity inflow into the country.
GPT’s reaction to this article:
As an AI language model, I don’t have personal opinions, but I can provide you with some analysis of the article.
The article suggests that the Indian economy grew at a faster pace of 5.1% in Q4, which is a positive sign for the country’s economic growth. Additionally, the RBI governor’s statement that the growth momentum in the March quarter may have exceeded the official estimate of 7% is also a positive sign.
The second part of the article talks about the exemption of investments by non-resident entities from 21 countries from the so-called ‘angel tax.’ This move is likely to encourage more foreign investments in India, which can help boost the country’s economy. However, the article also notes that some countries like Mauritius, Singapore, and UAE have been left out of this exemption, which may affect their equity inflow into the country.
Overall, the article portrays a mixed picture of the Indian economy, with some positive signs of growth and investment, but also some potential challenges.