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Economy

Niti Aayog has a prescription for ailing economy and it starts with interest rate cuts

Updated : August 22, 2019 12:01 PM IST

Niti Aayog has suggested a reduction in the interest rate from 8 percent to 5 percent on new small savings in a phased manner spread over 24 months.
It has also suggested a delay in merger of public sector banks at this stage, and recapitalization of the banks on the basis of performance soon, as announced in the budget this year.
On the tax front, the think tank has pushed for a rollback of dividend distribution tax and buyback tax which was levied in the 2019 Union Budget.
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