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Transparent tax system must: Raghuram Rajan

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Mumbai: In order to attract higher investments, the Indian taxation system should be more transparent, Reserve Bank of India (RBI) governor Raghuram Rajan said on Monday.

Speaking at a seminar here, Rajan stressed that the Indian tax system should be transparent and predictable to attract foreign investments.

According to him, to make products in India, a framework has to be created making it easy to do business in the country.

He also said the supply side issues have to be addressed so that prices were under control and the demand side was taken care of.

Stating that nine percent growth in economy was an aspiration, Rajan said the supply side constraints had to be removed while ruling out growth sans inflation.

He said the human capital in the country needed to be upgraded so that businesses get the kind of people it requires.

Rajan also called for greater coordination between leading central banks so that the monetary policies can be used in a more effective manner.

(IANS)

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India Gets Assistance of Rs 3,420 Crore From Japan

The project for the construction of Chennai road aims to meet increasing traffic demands in the metropolitan area and installing Intelligent Transport Systems,

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Japan will be giving a loan of Rs 3,420 crore to India to assist in constructing the Chennai Peripheral Ring Road and for joint efforts towards meeting the UN Sustainable Development Goals (SDGs).

“The loan agreements were signed here today (Friday) between the Government of India and Japan International Cooperation Agency (JICA), New Delhi under Japanese Official Development Assistance Loan Program,” the Ministry of Finance said in a statement.

The Japanese ODA loan is for construction of phase one of Chennai Peripheral Ring Road for about Rs 2,470 crore and for Japan-India cooperative actions towards SDGs in India for about Rs 950 crore.

FDI
The Japanese ODA loan is for construction of phase one of Chennai Peripheral Ring Road for about Rs 2,470 crore and for Japan-India cooperative actions towards SDGs in India for about Rs 950 crore. www.trafficchallan.co.in

The agreements were signed by Finance Ministry Additional Secretary C.S. Mohapatra and JICA New Delhi Chief Representative Katsuo Matsumoto, the Ministry said.

Also Read: Now India is One of The Most Open Countries for FDI: Narendra Modi

The project for the construction of Chennai road aims to meet increasing traffic demands in the metropolitan area and installing Intelligent Transport Systems, thereby contributing to mitigation of traffic congestion and promoting Regional Economic Development.

The other program aims to promote SDGs in India, mainly in social development, by supporting the efforts by the Indian government to strengthen the policy framework and implementation mechanism, thereby supporting India in achieving SDGs by 2030, it added.(IANS)

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