Govt promises stable tax regime for investors: Law Minister

Tags: News
Seeking to assure global investors of a stable taxation regime, Law Minister Ravi Shankar Prasad today said retrospective tax should be generally avoided as the country needs foreign investment to boost the economy.

"The larger view is that retrospectivity is avoided to the maximum. The fiscal regime, the policy regime, taxation regime must be very evident because India needs investment," he told reporters after taking charge of the ministry.

Amendment to Income-tax Act with retrospective effect by the UPA government caused uncertainty among global investors and India was even slapped with an arbitration notice in a Rs 20,000 crore tax case by British telecom major Vodafone.

On the Vodafone notice, Prasad said: "We will look into it. Our manifesto has been very specific that we want a stable regime where those who invest in India may not have to face uncertainty."

The goal of the government, he said, is that those who invest in India must have the assurance of a stable fiscal policy and also legal regime under which they are investing.

He further said that "any wrong doing or corruption or extraneous considerations shall be visited very seriously".

The new minister assured investors that the NDA regime would be "fair, non-discriminatory, transparent and stable".


  • EPFO would do well to have better risk management of available cash

    The Employees’ Provident Fund Organisation (EPFO) is apparently revisiting its decision to invest about Rs 6,000 crore in stocks this year.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Amita Sharma

Smart cities for the smart citizens

The 21st century has been spoken of as the urban ...

Zehra Naqvi

The prejudiced childhood

Sometimes the most unusual things can remind you of the ...

Gautam Gupta

To read about online videos, click here

ONce, not so long ago, exhorbitant costs had made sure ...


William D. Green

Chairman & CEO, Accenture