Pitching for simplification of investment procedures for non-resident Indians (NRIs), the UK-based Hinduja Group's chairman, SP Hinduja, has said that Indians settled abroad should also be allowed to invest in the country through overseas corporate entities.
In the budget, the government should also consider bringing NRIs at par with the resident Indians in terms of their investments and taxation, said Hinduja. He also said there was a need "to regularise political funding and eliminate its corrosive influence of corruption".
To tackle the menace of black money, he said, the government could consider an amnesty scheme. Hinduja said the government should push forward various economic reforms, including opening up of retail business for foreign investment and further liberalisation of FDI rules in insurance and other sectors.