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India Inc's Business Sentiments Drawing Closer to Pre-pandemic Level: Grant Thornton Bharat

    9 September , 2021         Fdiindia

India Inc's Business Sentiments Drawing Closer to Pre-pandemic Level: Grant Thornton Bharat

The study indicated that worldwide and local revenue optimism in 2021 is increasing.

According to a study by Grant Thornton Bharat, India Inc's business mood is returning to pre-pandemic levels, indicating a stronger performance in the next quarter. Transparent taxation was considered to be one of the most important government efforts, followed by the production-linked incentives (PLI) program, equalisation levy, and new labor laws, according to a poll with over 3,700 respondents across digital platforms.

"From cautious to hopeful," Grant Thornton Bharat said in a statement, "India Inc's business attitudes are getting closer to pre-pandemic levels, pointing to a more strong performance in the next quarter."

While half of those polled believe the epidemic has had a negative effect on the economy, 60?lieve that lowering taxes and compliance costs will help companies recover. Government efforts have also contributed significantly to the economy's recovery.

Following the second wave, six out of ten respondents believe that lowering tax and regulatory burdens would aid in the revival of companies. Other relief packages that respondents believe may assist improve cross-border and domestic commerce include an increase in direct expenditure, followed by more cash injection and greater FDI flows.

The study indicated that worldwide and local revenue optimism in 2021 is increasing.

"The reduction in corporate tax rates, attempts to reduce litigation through dispute resolution schemes, bringing in more transparency through various tax administrative reforms, and boost to MSMEs through various policy initiatives are all yielding results and adding to the positive business outlook in India," said Vikas Vasal, Grant Thornton Bharat National Managing Partner (Tax).