According to experts, revenue's aggression in the case of transfer pricing is due to a deteriorating macro environment i.e. slowing growth, declining tax revenues and a widening deficit - a classic case of the tail wagging the dog!
The Reserve Bank of India (RBI) raised interest rates by a higher-than-expected 50 basis points on Tuesday, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy.