India for non-adversarial tax policy |
India has the potential for double digit growth, emphasized Finance Minister Arun Jaitley on April 27, and reaffirmed the government`s commitment for a non-adversarial tax policy. He promised a business friendly environment to woo foreign investments and stressed that retrospective tax will not be imposed. The BJP led NDA government hopes for a mature process of political consensus on amending the Prevention of Corruption Act, 1988. The Act must bring out an essential distinction between trial and error or an honest decision and a decision led by corrupt motives. Jaitley made the comments at an event for India`s top investigating agency, the CBI, saying key reform Bills on land acquisition and the goods and services tax are pending with Parliament for approval. Jaitley said many government departments are reluctant to take decisions or enter into honorable compromises.
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