HOME         WEBSITE         SUBSCRIBE           E-GREETINGS   
                               

Tuesday, January 27, 2015

FM: Investors Showing Huge Curiosity and Interest in India; We Can't Afford to Miss this Opportunity

Ordinarily Everything is Going in our Favour Including Better Growth Prospects, Good Reserves, Fiscal Deficit and Cad Under Control; Calls for Non Adversarial Tax Administration 

The Union Finance Minister Shri Aruj Jaitley said that there is huge curiosity and interest in India especially among domestic and foreign investors. The Finance Minister said that we can't afford to miss this opportunity. The Finance Minister Shri Jaitley said that ordinarily everything is going in our favour including growth prospects. The Finance Minister further said that other developed and emerging market economies like Brazil, South Africa, Europe, Japan and Russia among others are facing challenging situation while our prospects are showing an upward trend. The Finance Minister Shri Jaitley was speaking at the Investiture Ceremony to honour the officers of Central Board of Excise and Customs (CBEC) for their excellent performance and International Customs Day function organised here today by CBEC. The Finance Minister said that in order to make best use of this opportunity, we have to address two major concerns i.e. quick decision making & stability in policy matters and reforms in tax structure and administration. The Finance Minister said that there is need for change both in attitude and mind set towards investors' and assesses. He said that we need to have a non-adversarial tax administration which is both investors' and assesses' friendly. 

The Union Finance Minister Shri Jaitley further asked the CBEC officers to ensure that those who are liable to pay tax must pay their dues and tax evaders must be taken to task. However, the Finance Minister said that at the same time, they have to maintain certain level of civility with assesses and investors which must be cogent and logical. The Finance Minister said that revenue collections which was affected due to low manufacturing in the last 2-3 years are also turning around and we hope to meet our fiscal targets. He said that our reserves are good and Current Account Deficit (CAD) position is much better. The Finance Minister said that our currency was among the two global currencies which withstood the might of dollar in recent times. He said that we try to improve where we found ourselves wanting. He asked the custom officers to safeguard borders by curbing unlawful economic activities. He congratulated the award winners for their exemplary work and hoped that they will be role model for other officers to emulate their performance in future. 

Speaking on the occasion, Shri Jayant Sinha, Minister of State of Finance said that there is need for more transparency in tax administration and need to build data base for authentic and valid information. He said that there is need for coordination among different agencies to avoid delay by having less paper work, documents to be filed, among others for efficient delivery of services. 

Earlier speaking on the occasion, Shri Shaktikanta Dass, Revenue Secretary asked the CBEC officers to rededicate themselves to their sovereign responsibility of administering indirect tax administration and maximise the revenue collections. He asked the officers to dedicate themselves to the cause of improving the ease of doing business in the country in line with the Prime Minister's programme of ‘Make in India'. In this regard, the Revenue Secretary asked the officers that 24x7 functioning of the ports and airports for customs clearances must be implemented in letter and spirit. He asked the custom officials to check illegal flow of goods and commodities such as drugs, fake currency notes etc. across the international border. He said that we should also dedicate ourselves to the theme of facilitation to stakeholders and ensure smooth follow of goods and commodities within the country and in other countries. He asked the officers to give personal touch in efficient and effective discharge of their day to day duties. 
Posted by

Blog Archive

____________________________________________________________________________________________

Disclaimer - All investments in Mutual Funds and securities are subject to market risks and uncertainty of dividend distributions and the NAV of schemes may go up or down depending upon factors and forces affecting securities markets generally. The past performance of the schemes is not necessarily indicative of the future performance and may not necessarily provide a basis for comparison with other investments. Investors are advised to go through the respective offer documents before making any investment decisions. Prospective client(s) are advised to go through all comparable products in offer before taking any investment decisions. Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the fund will be achieved. Information gathered & material used in this document is believed to be from reliable sources. Decisions based on the information provided on this newsletter/document are for your own account and risk.


In the preparation of the material contained in this document, Varun Vaid has used information that is publicly available, including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the Varun Vaid and which may have been made available to Varun Vaid. Information gathered & material used in this document is believed to be from reliable sources. Varun Vaid however does not warrant the accuracy, reasonableness and/or completeness of any information. For data reference to any third party in this material no such party will assume any liability for the same. Varun Vaid does not in any way through this material solicit any offer for purchase, sale or any financial transaction/commodities/products of any financial instrument dealt in this material. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice.


Varun Vaid, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. All recipients of this material should before dealing and/or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. Any person subscribing to or investigating in any product/financial instruments should do soon the basis of and after verifying the terms attached to such product/financial instrument. Financial products and instruments are subject to market risks and yields may fluctuate depending on various factors affecting capital/debt markets. Please note that past performance of the financial products and instruments does not necessarily indicate the future prospects and performance there of. Such past performance may or may not be sustained in future. Varun Vaid, including persons involved in the preparation or issuance of this material may; (a) from time to time, have long or short positions in, and buy or sell the securities mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation in the financial instruments/products/commodities discussed here in or act as advisor or lender / borrower in respect of such securities/financial instruments/products/commodities or have other potential conflict of interest with respect to any recommendation and related information and opinions. The said person may have acted upon and/or in a manner contradictory with the information contained here. No part of this material may be duplicated in whole or in part in any form and or redistributed without the prior written consent of Varun Vaid. This material is strictly confidential to the recipient and should not be reproduced or disseminated to anyone else.


Varun Vaid also does not take any responsibility for the contents of the advertisements published. Readers are advised to verify the contents on their own before acting there upon.


Published Credits goes to following sources & all the mentioned sources as footer below the published material- Bloomberg, Valueresearch Online, Capital Market, Navindia, Franklin Templeton, Kitco, SBI AMC, LIC AMC, JM Financial AMC, HDFC AMC, The Hindu, Business Line, Personal FN, Economic Times, Reuters, Outlook Money, Business Standard, Times of India etc.