“It would be hugely positive if reform agenda is pursued with reduction in corporate tax rate, digital penetration, NPA cleaning and investing the money garnered from black money for infrastructure. If black money comes into the system, then interest rates would come down and push growth to 8-8.5 per cent,” Vanvari said.
Srivastava said that with large amount of money coming in, the government may look at lowering corporate tax rate and bring it in line with those prevailing in the US and UK and thereby prevent flight of capital. It could also raise the I-T exemption limit to Rs 3 lakh in the upcoming Budget to give more disposable money in the hands of people.
