India's Growth Potential: A Vision for Viksit Bharat 2047

India's GDP is projected to grow between 6.8-7.2% in the next fiscal, according to the EY Economy Watch report. To achieve the Viksit Bharat goal by 2047, India must increase its tax-GDP ratio through improved tax compliance, despite recent major tax reforms in personal income tax and GST.

India's economy is poised for significant growth with GDP expected to increase between 6.8 and 7.2 percent in the next fiscal year, according to the EY Economy Watch report released on Thursday.

The report highlights the need for improved tax compliance to attain the Viksit Bharat 2047 goal, despite earlier major reforms in personal income tax and GST.

Despite potential shortfalls in government tax revenues due to these reforms, the government aims to maintain its fiscal deficit targets while benefiting from enhanced bilateral trade agreements with major economies.