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 bear fruit, according to a new OECD report.
"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," it said.
The latestOECD Economic Survey of Indianotes that while India has greatly expanded its participation in global trade in recent years, private investment 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.
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