India is becoming a nation of investors rather than of savers. Chairperson of National Financial Reporting Authority (NFRA) Nitin Gupta has said this while addressing a National Conference on Agile Governance in New Delhi today. Mr Gupta said that investors’ confidence in India is increasing due to transformative reforms such as UPI, GST and Production Linked Incentive schemes. Talking about the country’s growth story, he said that India has become a resilient economy with a GDP growth rate of 7-8 per cent.
The NFRA chairperson also highlighted the S&P data, which estimated India’s real GDP average at 6.8 per cent for 2022-24. Emphasising the importance of the theme of the event, Fostering Transparency and Building Trust, Mr Gupta said that corporate governance has to be sound, and the financial reporting framework has to be of global standards. The NFRA chairperson added that simplification of laws, better compliance and newer direct tax laws are the steps to sustaining and furthering the economic confidence of the citizens.
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