Ease of doing business: Financial institutions want NaMo govt to ease taxation norms

With an aim to increase the ease of doing business within the country, domestic financial institutions, along with the mutual funds have now pitched in for rationalisation of tax provisions.

An Economic Times revealed that the suggestions were made by the representatives of the domestic financial institutions as well as the experts of mutual funds during a meeting with Finance Ministry officials.

Once the meeting was concluded, Economic Affairs Secretary Shaktikanta Das told the media persons, "There were some suggestions and representation with regard to rationalisation of certain tax provisions. We have made a note of... CBDT and CBEC officials were present. They will examine it... let us see what can be done."

Moreover, the representatives also shared their concerns on issues like increasing retail participation, widening of investor base and development of market infrastructure in the meeting.

"The idea was to get their suggestions and inputs about what needs to be done to improve ease of doing business... to carry about some policy reforms in the area of financial markets," said Das.

Additionally, he said, "we discussed deepening of corporate bond market and also bigger and wider retail participation in the bond market."

Yesterday, the Finance Ministry had organised a similar meeting with the representatives of foreign portfolio investors.
Image: indiatimes