August 7, 2012 10:51 AM

printer

Fin Min to review tax provisions with retrospective effect to boost investment

The Finance Minister P. Chidambaram has said that the government will modify the tax policies to regain investor confidence. Talking to reporters in New Delhi for the first time after taking over the charge of the ministry, he said yesterday that his ministry will review tax provisions that have retrospective effect. He said, supply side constraints will be removed to achieve price stability and existing food stocks will be used to moderate prices. He said that his ministry will work with Reserve Bank of India to moderate inflation in medium term and take action to ease interest burden on consumers.Stressing the need to focus on large projects as well as infrastructure projects, the minister said an Investment Tracking System for projects with an outlay of One thousand crore or more has been put in place. He said, proposals pending with the Foreign Investment Promotion Board will be processed and decisions will be taken expeditiously.Mr. Chidambaram said, a roadmap to boost investments and economy by fine-tuning policies will be put in place soon. He said, steps will be taken to attract more people to invest in mutual funds, insurance policies and others.

Most Read
View All arrow-right

No posts found.