India expected to be one of the major beacons of economic growth: KPMG

This despite a sluggish growth of 4.4 per cent during the last quarter of calendar year 2022 as compared to 6.3 per cent in Q3 2022, the report said. "The efforts of the Union Budget 2023-24 to improve the disposable income of taxpayers in the country is expected to boost consumption via an increase in discretionary spending," it notes.

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