Geneva: The World Trade Organization came out with praise for India’s economic growth of 7.4 percent despite the Corona epidemic. The trade union had praised India’s seventh trade policy review.
The organization also said that India’s rapid economic growth was also an advantage in socio-economic indicators such as per capita income and life expectancy. The organization also mentioned the agricultural laws introduced by the Central Government for the upliftment of the farmers. The trade union pointed out that the increase in the price of crops and the funding schemes were laudable.
To overcome the economic crisis in the wake of the corona, the measures for foreign direct investment were simplified and innovations in the trade sector were brought about. The organization also praised these measures. India’s economic inclusion policy has reduced the gap between the village and the city, according to a review report of the World Trade Organization Secretariat. The subsidy of food supplies has led to a rise in the standard of living of the people. The GST regime in the country will benefit the indirect tax system. Insolvency and bankruptcy code will eliminate corporate debt. The report also states that the innovations in the banking sector will result in the smooth functioning of banks and non-banking financial institutions.