Govt open to further reforms: Nirmala
| Date :04-Dec-2019 |
NEW DELHI :
SEEKING investment from global players, Finance Minister Nirmala Sitharaman on Tuesday said the Government is open to further reforms for making India a more attractive investment destination. The Government has taken various steps, including reduction in Corporate Tax, she said at the India-Sweden Business Summit here. Without sharing details of future reforms, the Finance Minister said, “I only can invite and assure that the Government of India is committed for further reforms in various sectors whether it is banking, mining or insurance and so on.”
She further said that the Government is addressing challenges faced by the industry not just Indian-owned but operationalise industries which are present in India. “Since after budget I have made sure constant interactions with the industry, understanding their challenges, and therefore, since after the budget not waiting for another budget which is expected in February 2020, we took major structure reform in the form reduction in corporate tax.
“This one measure indicates how our Government believes in reforms. Today I say there are many more steps we have to take,” she added. In the biggest tax reduction in 28 years, the Government in September slashed corporate tax rates up to 10 percentage points as it looked to pull the economy out of a six-year low growth with a Rs 1.45 lakh crore tax break.