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OECD says India needs more reforms

The latest OECD Economic Survey of India notes that India is set for a modest recovery after a loss of momentum as reforms to simplify taxation lighten business regulations and upgrade infrastructure start to fructify.  It also highlights that private investment in the country remains relatively weak, the employment rate has declined amid a shortage of quality jobs, rural incomes are stagnating, and per-capita income varies considerably across states. “Further reforms to modernise the economy are now needed to drive the creation of high-quality jobs, as well as measures to improve public services and welfare,” the report stated.