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Jaitley says taxation laws to be changed by India

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Singapore: Finance Minister Arun Jaitley on Thursday said, India’s taxation laws will be changed for greater predictability and stability in the tax regime.

“It has been our effort in India to gradually transform and change most of our taxation laws, put to rest various disputes and issues which have been pending, and make sure that the scope of discretion is eliminated and there is a greater degree of stability and predictability as far as taxation laws are concerned,” Jaitley told an international meet on “Doing Business Across Asia: Legal Convergence In An Asian Century”.

“One major step needed to increase the ease of doing business is to reduce inter-state variation and the barriers to inter-state trade,” he said referring to India’s states in a video message to this first such global conference on legal issues.

“The proposed Goods and Services Tax (GST) is a major step in this direction,” the Indian finance minister said.

“There will be uniformity in taxation rates, there will be much greater compliance and obviously certainty. It’s going to help India’s GDP,” he added.

In relation to the GST Bill that is pending in the Rajya Sabha because the ruling NDA lacks the requisite majority to push it through, Jaitley extolled the virtues of Indian federalism.

“If India despite its massive population and unparalleled diversity has remained strong and united political and economic unit, it is partly because of the freedom given to states to be diverse in their laws and regulations.”

“Some degree of divergence in practice also allows for experimenting with multiple models,” Jaitley said.

“The fact is that businesses need a level of tolerance for diversity of laws if they are to exploit the opportunities that come from geographical diversification,” he added.(IANS)

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India’s PSLV Along With 2 British Satellites Launched Successfully

Two satellites aboard the PSLV belong to Surrey Satellite Technologies Ltd (SSTL), UK, and is carried under commercial arrangement with Antrix Corp Ltd - the commercial arm of ISRO.

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Indian rocket lifts off with two earth observation satellites from UK
Indian rocket lifts off with two earth observation satellites from UK. Flickr

Indian rocket Polar Satellite Launch Vehicle (PSLV) lifted off successfully with two British satellites, NovaSAR and S1-4, from the rocket port here on Sunday night.

The PSLV-CA (Core Alone) version, standing 44.4 metres tall and weighing 230.4 tonnes, with thick orange flame at its tail lighting up the night skies rose up at 10.08 p.m. from the first launch pad.

The rocketport here has two launch pads.

PSLV
Indian rocket Polar Satellite Launch Vehicle  lifts off with two British satellites NovaSAR and S1-4, as seen from Chennai. IANS

According to the Indian Space Research Organisation (ISRO), after 17 minutes, 44 seconds following the PSLV lift-off, the two earth observation satellites will be launched into a 583 km sun synchronous orbit.

NovaSAR weighing 445 kg is a S-Band Synthetic Aperture Radar satellite intended for forest mapping, land use and ice cover monitoring, flood and disaster monitoring.

 

PSLV
Indian rocket Polar Satellite Launch Vehicle  lifts off with two British satellites NovaSAR and S1-4, as seen from Chennai on Sept 16. IANS

S1-4 weighing 444 kg is a high resolution Optical Earth Observation Satellite, used for surveying resources, environment monitoring, urban management and for disaster monitoring.

 

Also Read: ISRO Expects to Fly Its First Small Rocket Sometime Next Year

Two satellites aboard the PSLV belong to Surrey Satellite Technologies Ltd (SSTL), UK, and is carried under commercial arrangement with Antrix Corp Ltd – the commercial arm of ISRO. (IANS)

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