On Friday, PM Narendra Modi said that the decision to drop the provision of retrospective taxation from the statute demonstrated the centre’s commitment to provide stability in the investment climate and also signalled consistency.
The statement came hours after the Lok Sabha passed the Bill meant to end tax disputes with 17 companies, including high profile ones such as Vodafone and Cairn Plc.
Addressing exporters, businesses , states and Indian Ambassadors in foreign missions at an event to work out a strategy to scale up India’s exports to $400 billion this year, the PM said exporters know very well the importance of stability.
“It sends a clear message to all investors that not only does India offer new opportunities but a decisive government has the will to fulfill its promise, ” Modi said while talking about the legislation.
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