New Delhi, Sept. 5 -- India Inc revenue will likely grow 6-7 pc this fiscal, 25-50 basis points (bps) higher than our previous estimate because of the reduction in Goods and Services tax (GST) rates, said a Crisil report.
'India Inc' is a term used to collectively refer to a country's formal business sector. It encompasses both government-owned and corporate entities.
The report further said" The reductions will have a positive impact on consumption, which accounts for 15 pc of the revenue of corporations. The timing of the cuts is also apposite, coming amid continuing global uncertainties, and coincides with the festival and wedding season in India when consumption typically peaks annually."Crisil noted the new GST rates will lower the p...