Hong Kong: Arun Jaitley highlights the recent initiatives undertaken by the present government
The Finance Minister explained the provisions made in the General Budget 2015-16 on tax pass through for domestic private equity firms and those relating to fund managers.
The Finance Minister was speaking during his meeting with the institutional investors today on the second of his official visit to Hong Kong.
During the meeting, the investors asked about the further initiatives to be taken to promote long-term investments into the Indian economy and the execution of policy announcements.
The investors raised issues relating to private equity and their taxation; the need to further simplifying procedural requirements for FPIs and suggested that an income tax cell may be set-up to deal with foreign investors.
Later, Jaitley delivered the Key Note Address at the India Capital Markets and Institutional Investors Summit organised by APIC.
He outlined the recent growth story of the Indian economy and the priorities of enhancing investment in irrigation and infrastructure sector, enhancing rural prosperity and taxation reforms.
The Finance Minister also spoke about the initiatives taken to make India an attractive investment destination.
He mentioned about the recently announced National Investment and Infrastructure Fund (NIIF). The investors raised issues regarding labour reforms, Make in India and cross-border bilateral investment opportunities between India and China.
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