GST alone will add 2 percentage points to GDP growth
By Manishika Miglani It’s been three years since the Narendra Modi-led government came into power and announced a slew of measures to revive the investment climate of the country since then. In an interview with The Dollar Business, G.V.L. Narsimha Rao, Spokesperson, BJP, talks about the performance of the government, so far, and the party’s roadmap for further leveraging the business sentiment of the nation. TDB: The government has focussed on consolidating the investment scenario of the country? Has it been successful in achieving its targets? G. V. L. Narsimha Rao (GVL): At a time when global FDI inflows have turned negative, India has experienced the highest growth in the sector in the last three years. So, our government has been very successful ...
Tax rate must be brought down to global level, says Finance Minister
The Dollar Business Bureau The tax rate in India must be brought down to the global level while removing the exemptions. The above statement was made by the Finance Minister, Arun Jaitley while delivering the Key Note Address after inaugurating the Thirty First Annual Conference of Principal Chief Commissioners, Principal Director Generals, Chief Commissioners and Director Generals of Income Tax. The Finance Minister also spelt-out his vision of an internationally competitive tax regime with a stable policy and a non-adversarial tax administration. The comments made by the Finance Minister assume lot of significance at a time when you cannot have non-uniform and non-transparent tax regime in place and expect foreign investors to be delighted. Taxation policies in India remain inherently ...
High-level committee to deal with tax issues
The Dollar Business Bureau The Union Finance Minister, Arun Jaitley, on Monday, stressed on need for a non-adversarial taxation policy, as he made clear that the Government of India will not impose ‘retrospective’ taxes. “Our taxation process has to be simpler to increase tax buoyancy and the taxation policy has to be non-adversarial. The government does not intend to tax people retrospectively,” said Jaitley, addressing the D P Kohli Memorial Lecture in New Delhi. Further promising a business-friendly environment for the global investors, the Union Finance Minister called for a globally competitive corporate tax structure. He stated this in reference to the Union Budget 2015, where the government has proposed to reduce the corporate tax from 30 % to ...
