Union Budget 2021 Expectations: The UK-India Business Council on Friday said it has suggested making the tax structure identical for domestic and overseas companies in India
Sources said the union labour ministry has decided to appoint legal advisors soon, mandating them to examine whether the state laws are in sync with the central codes. If the harmony is found to be lacking, then states will be asked to either amend them or take Presidential assent for their respective laws once again.
"A combination of supply-side scarring and demand-side constraints - such as the weak state of the financial sector - will keep the level of GDP well below its pre-pandemic path," it said in commentary on the Indian economy.