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No more retrospective taxes in India: Narendra Modi

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London: Prime Minister Narendra Modi has said that India will no longer resort to retrospective taxation, while acknowledging that such steps were adversely affecting the mood of existing and potential investors.

“There were a number of regulatory and taxation issues which were adversely impacting on the sentiments of foreign investors. We have taken very decisive steps to remove a number of long-pending concerns,” the prime minister told the Indo-UK Business Meeting late on Thursday.

“We have clearly articulated that we will not resort to retrospective taxation and demonstrated this position in a number of ways. This includes not going for the imposition of minimum alternate tax on foreign portfolio investors,” he said.

“We want to make sure our tax regime is transparent and predictable. We are also keen to see that genuine investors and honest tax payers get quick and fair decisions on tax matters,” he said at the at historic Guildhall, the city’s ceremonial administrative centre for several centuries.

The prime minister said as the result these steps, not only have the sentiments for the inflow of foreign investment turned positive, but inward equity has also actually gone up by 40 percent in the year thus far, compared with the corresponding period of last year.

This apart, he said, Ernst and Young has ranked India the most attractive investment destinations for greenfield projects and so have USA’s Foreign Policy magazine and Frost and Sullivan.

“India has also jumped 16 places on the World Economic Forum’s global competitive index,” he continued.

“In just 18 months, we have successfully restored the credibility of India in the eyes of global players.”

(IANS)

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PM Narendra Modi Lauds Film Fraternity for Showcasing Indian Culture

Narendra Modi on Saturday inaugurated the National Museum of Indian Cinema (NMIC) in Mumbai

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Mahathir, who governed Malaysia for more than two decades, became, at the age of 92,
Congress cheating farmers in name of loan waivers. Wikimedia

Prime Minister Narendra Modi said on Sunday that Indian film fraternity is at the forefront of showcasing the country’s culture globally.

Narendra Modi on Saturday inaugurated the National Museum of Indian Cinema (NMIC) in Mumbai.

On Sunday, Director-actor Kunal Kohli posted: “Had the privilege to meet our honourable Prime Minister Narendra Modi.”

To which, Modi replied: “I enjoyed interacting with you and other members of the film fraternity. This community has been at the forefront of showcasing India’s culture internationally.”

According to LocalCircles, each person who voted in the survey is registered with the portal with their detailed information and in many cases they shared their residential address.
Narendra Modi.

The Prime Minister also responded to veteran singer Asha Bhosle and thanked her “for gracing the programme. The entire nation looks up to you for your stupendous contribution to the film world”.

Comedian-actor and producer Kapil Sharma wrote to Narendra Modi that it was “great knowing your inspiring ideas and progressive views about our film industry and our nation. Sir, I must say you have a great sense of humour too.”

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To which, Modi said: “When Kapil Sharma appreciates somebody’s humour, it sure makes that person happy and I am no exception. Thank you for the kind words Kapil.”

Other actors who were present at the event included Aamir Khan, A.R. Rahman, Parineeti Chopra and Divya Dutta. (IANS)