Tax stability for businesses to bond inclusion in global index; 5 highlights from FM Sitharaman’s speech today
A Thread 🧵 #NirmalaSitharaman
A Thread 🧵 #NirmalaSitharaman
1) India is the fastest growing economy in the world and over the next 25 years, the government will reposition it to ensure that India becomes a developed nation by 2047
2) The government is committed to its intent to privatise PSU and push banking sector reforms. The initial public offering of LIC of India has shown that government is committed to the process of disinvestment. The government will go ahead with banking sector reforms as well
3) Going forward, the government will provide tax stability to businesses. Talking about governance, Sithraman said that the government does not support entitlement in governance as it leads to condescension
4) Windfall tax on petroleum products and crude is not ad hoc, but is being charged in regular consultation with the industry.
5) The widening tax base is an issue that needs a lot of consultations & analysis. However, increasing number of income tax filings gives her some clue on possibility of widening it. But FM want to ensure that as and when it is done it looks reasonable and tech-driven
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