Indian economy likely to rebound in 2020, inflation to remain benign: PHDCCI
Industry chamber PHDCCI said it expects India's economy to rebound in 2020 and inflation to remain benign on account of reforms such as reduction in corporate tax. "We believe that speedy implementation and synchronisation of various reforms will refuel our economic growth trajectory soon," PHDCCI President D K Aggarwal said. He adding that 2020 will be a year of economic rebound, wherein the expectation is that the economy will regain its dynamic growth trajectory once again and take its position to become a USD 5-trillion economy by 2024. The PHD Chamber of Commerce and Industry (PHDCCI) president said the economic reforms in 2019 were amazing as the government "reduced corporate tax significantly from more than 30 percent to an effective rate of 25.17 percent and 17.01 percent for the new manufacturing units". Besides, he observed that inflation in 2020 will remain benign except few fluctuations because of weather disruptions. "At t...