These include cut in corporate taxes, taxation reforms, introduction of Performance Linked Incentive Scheme for 13 major sectors, enhanced focus on infrastructure development and asset monetization by the government, initiatives by the government under the Atma Nirbhar programme and proactive liquidity measures by the RBI. Encouragingly, some improvement in investment activity has been observed in the recent period.
These economies are likely to increase gradually, due mainly to the spread of the effects of steady growth in advanced economies. B. Japan's economy and price developments 1. Current situation Now I would like to discuss developments in economic activity and prices in Japan. The Bank's assessment is that Japan's economy is expanding moderately, with a virtuous cycle from income to spending operating.