Advertisement

HindustanTimes Sun,21 Sep 2014

Crucial to follow tax-friendly regime, says Chidambaram

HT Correspondent, Hindustan Times  New Delhi, December 06, 2012
First Published: 21:59 IST(6/12/2012) | Last Updated: 22:01 IST(6/12/2012)

Finance minister P Chidambaram has said that it was crucial to follow a tax-friendly regime and non-adversarial tax administration to raise the tax to gross domestic product (GDP) ratio in the country.

Advertisement

While addressing the 63rd batch of IRS (Customs and Central Excise) officers, he underlined the need to have a fair and just dispute resolution mechanism.

The minister has already promised to bring in a stable tax regime to boost investor confidence.

Certain tax measures especially the General Anti-Avoidance Rule (GAAR) have proved to be dampeners for the corporate India while sparking fear among global and domestic investors, who say this would choke foreign investment into the country.

Chidambaram said good governance and correct application of resources would take India into being a middle income country.

He also said nation building through affirmative action policy and nurturing talent is critical.


Advertisement
more from Business

Alibaba's big debut: Here are the 10 things you want to know

China's e-commerce giant Alibaba began trading its shares Friday on the New York Stock Exchange. Here are ten things to know about Alibaba, and why its initial public offering made history.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved