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  • FM hints rationalising tax rates in coming Budget

    Published on January 24, 2015

    Arun-Jaitley_davosFinance Minister Arun Jaitley has hinted at rationalising tax rates and providing incentives for manufacturing in the coming Budget while asserting that “structural changes” will have to be made to get the economy to 8-9 per cent growth.

    Hard selling India to global investors at the World Economic Forum in Davos, the Finance Minister also promised a stable tax regime that will not come up with unreasonable demand and change taxes retrospectively.

    Terming political opposition to ordinance route for reforms as ‘obstructionism’, Finance Minister Arun Jaitley said the foreign investors have no problems with these decisions and they were rather happy that the government has brought in legislations.

    Jaitley said this amid a series of meetings on the sidelines of WEF with existing and potential investors.

    The Minister said that the investors across sectors are very enthused about India and are waiting to come in and they only want to be doubly sure about the credibility of the decision making process.

    Finance Minister Arun Jaitley also hinted at complete privatisation of some loss-making public sector undertakings at a later stage saying that the government will go ahead with its disinvestment programme.