While India’s per capita income is converging towards that of the richer countries, inequality has drifted up.
In relation to GDP, India's public debt and interest payments are high compared with most other emerging economies and rating agencies have put India's sovereign debt at the lowest investment grade.
Business taxation in India is characterised by high effective tax rates, a narrow tax base, and an uncertain tax environment for potential investors.
Tax reforms are crucial to promoting inclusive growth in India.
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India adopted a broad-based strategic approach to e-government in 2006 through the National E-Governance Plan. The plan set out key priority areas such as the creation of shared data and service centres. However, these changes have so far had little effect on overall governance and citizens’ quality of life.
While the outlook for many OECD countries remains subdued, Emerging Asia is set for healthy growth over the medium term. Annual GDP growth for the ASEAN -10, China and India is forecast to average 6.5% over 2015-19. Growth momentum remains robust in the 10 ASEAN countries, with economic growth averaging 5.6% over 2015-19.
Substantial fiscal consolidation was achieved under the aegis of the 2003 Fiscal Responsibility and Budget Management Act.
In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries.
A joint OECD-India seminar on good e-government practices took place in New Delhi. The seminar exchanged experiences focusing on three areas: the impact of the financial and economic crisis on e-government, strengthening leadership and organisation for successful e-government