This activity will allow us to identify those jurisdictions where either the legal framework is not good enough or practices are not good enough and, therefore, information is not flowing.
While the Reserve Bank and the Economic Survey of the finance ministry have projected India to grow at 6.9 per cent and 6.5 per cent in current fiscal, the International Monetary Fund estimates it to be 6.6 per cent.
India has already signed the OECD's global standard for automatic exchange of information between tax authorities two years back and once the new format is implemented, the country will follow the new protocols envisaged in it.
China became the 56th signatory to the agreement by signing the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. With this all the G20 nations, including India, have become official partners to combat the menace of tax crimes and evasion across international borders.
Speaking on Friday at the 44th World Economic Forum Annual Meeting, Jose Manuel Barroso, President of the European Commission, warned that while the Eurozone was showing strong signs of recovery, the crisis was far from over.
Indian economy is expected to improve marginally in the current financial year with its GDP at market price projected to expand by 3.4 per cent from 3.3 per cent in the previous fiscal, think tank OECD said.
The positive effects of demonetisation will be visible from April and the completion of remonetisation process will drive consumption going forward, Economic Affairs Secretary Shaktikanta Das said on Tuesday.
Chinese Premier Premier Li Keqiang said world economic recovery should not be driven by mainly China, but in concert with many countries.
The income inequality gap was found to be highest in South Africa and lowest in Denmark.
The annual talk-fest of rich and powerful from across the world in snow-laden Alpine resort town of Davos will be attended by nearly 40 heads of government among more than 2,500 global leaders from over 100 countries.
Those scheduled to attend the five-day WEF Annual meeting, beginning January 21, include more than 40 heads of state or government, including those from the UK, Australia, Japan, Iran, Israel, Pakistan, Brazil, Italy, Mauritius, Republic of Korea and Switzerland, WEF announced on Wednesday at a press conference in Geneva.
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