World Bank President David Malpass, who is currently on an India visit, on Saturday lauded Prime Minister Narendra Modi for his vision to make the country a five trillion dollar economy and said the "powerful goal" will be assisted by innovations in the financial sector.
Speaking to media persons after meeting Modi, Malpass said, "Prime Minister Modi has a goal of five trillion dollar economy. It is a powerful vision and goal. It will be assisted by innovations in the financial sector."
Malpass appreciated the corporate tax cut implemented by the government. "India has taken a good step with the recent cut in the corporate tax rate that will add to growth," Malpass said
During their meeting, Malpass and Modi discussed various topics including the financial sector, water, education, skilling and importance of data.
"I had an interesting meeting with Prime Minister Modi and discussed varied topics We talked about the financial sector, data...We talked about water, education, and skilling," he said.
Modi and Malpass also discussed ways to add to the growth in India. "We discussed ways that the financial sector can move forward and add to growth within India," he said.
Malpass's visit comes in the backdrop of the recently released World Bank report on Ease of Doing Business 2020, in which India has remarkably improved in ease of doing business. The country is placed in the 63rd position among 190 countries.
Disclaimer: No Business Standard Journalist was involved in creation of this content
