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SURVEY URGES INDIAN TAX REFORMS TO BOOST INDUSTRIAL GROWTH.
NEW DELHI, March 1 Asia Pulse - Cautioning against complacency in the face of sustained industrial growth, the Economic Survey on Monday asked the government to "unburden" industry from high level of taxes to help it become globally competitive.
"...the reform of tax system still remains an unfinished task. To be competitive globally, the Indian industry needs to be unburdened from the high levels of taxes and distortive exemptions that provide perverse incentives," the Survey presented in the Parliament said.
Complimenting the government for opening up the economy, the Survey said a massive investment of Rs 7,397,370 million (US$167,002 million) has been committed by the industry in last three years in areas that have been delicenced.
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Source: HighBeam Research, SURVEY URGES INDIAN TAX REFORMS TO BOOST INDUSTRIAL GROWTH.