PM promises stable tax regime, easy clearances to investors

Shiv Kumar

Tribune News Service

Mumbai, February 13

Allaying fears of industrialists about taxes being levied with retrospective effect, PM Narendra Modi today said the government was working towards putting in place a transparent and predictable tax regime. Licensing and clearance processes would also be simplified, he said. 

“We have carried out corrective action on the taxation front... We will not resort to retrospective taxation... We are also swiftly working towards making our tax regime transparent, stable and predictable,” Modi said at the inauguration of the Make in India event this evening.

Addressing delegates from different countries and Indian industrialists, he said India offered plenty of opportunities in manufacturing. “This century is Asia’s century. Make India your manufacturing centre, if you want this century to be your century,” he said.

Earlier in the day Modi, accompanied by the Prime Ministers of Sweden and Finland, Kjell Stefan Lofven and Juha Petri Sipila, inaugurated the Business Centre at the MMRDA grounds in the city’s Bandra Kurla complex.