Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: form 3cd :: VAT Audit :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: cpt
 
 
General »
 Simplified one page Income Tax Return Form: Changes to keep in mind before filing tax return for AY2017-18
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 GST coming July 1 despite calls for delay: Revenue Secretary Hasmukh Adhia
 Centre introduces provision of taxation on NPS in Income Tax Act
 Income Tax Department Clarifies On Cash Withdrawal From Banks, Post Offices
 The Goods And Services Tax (Compensation To States) Bill, 2017
  Goods and Service Tax (GST) and Real Estate Sector
 New Income Tax Rules On Home Loan Come Into Effect
 Here's how late filers can save on stress and taxes
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib ?Kalyan Yojana, 2016
 Companies should invest in upgradation of tax technology

Tax adventurism remains a major issue: Sidharth Birla, Ficci
December, 25th 2013

Prime Minister Manmohan Singh may be at the fag end of his second term, but he is seriously concerned about the long-term implications of the current state of India's economy and its impact on industry, as the new Federation of Indian Chambers of Commerce and Industry (Ficci) president Sidharth Birla learnt when he met him on Monday.

Speaking to ET, Birla said that the PM has asked India Inc to think beyond short-term interests and look at market opportunities beyond the World Trade Organization framework. The PM also expressed concerns about Indian industry lagging behind the rest of the world, especially on the technology adoption front, due to the fraying of the domestic investment environment in the last few years. Excerpts from an interview with Birla:

At Ficci's annual general meeting's last meeting, ministers, top government officials as well as Congress vice-president Rahul Gandhi spoke about getting things done with a
new rigour that industry has welcomed. Do you feel this is a case of too little, too late, with the Lok Sabha polls just five months away?

Sidharth Birla: Elections take place every five years, so that doesn't stop the process. The problem for us, in recent times, has been that the propensity to cut a cheque has gone down in the household as well as the corporate sector. When people buy gold, it means they couldn't find anything else to invest in - they didn't want to cut a cheque to buy a car or house. Money was going out of the productive sectors into the unproductive sector. That's the state of mind of the country.

So if that state of mind starts turning positive, it's good, at whatever point of time it comes. It could be argued that it is too little, too late, but it sets the base for long-term stability. Any investment that is planned will see three to five general elections. Large investments involve plans of 15-20 years. For consumer-oriented items, if your factory is not up and running in less than three years, it won't work. Elections are like tornadoes. We have had three typhoons in Orissa this year.

If you worry only about typhoons, you will never set up shop there. Is Orissa a good place to do business is what matters? Other risks can be insured or left to God. The Ficci AGM coincided with the thought process in government and we are lucky we got that articulation. If all parties are talking about job creation, export competitiveness, growth, now is the time to set the vision for that.

You met the prime minister on Monday morning. What was the key message from him for Indian industry?

Sidharth Birla: He was in a good mood and thinking a little forward. He asked us to look at trade agreements beyond WTO. We are asking for greater market access, which can be done through new frameworks or existing trade pacts. He asked us to sensitise industry on how to leverage our positions through market access and intellectual property.

He tried to sensitise us that we shouldn't take a short-term view on such issues. Let us not take a view that compromises our interests, but also not become such that we only consider short-term interests. He was very balanced on that. Perhaps he was thinking about the problems faced by industry over the past year, and said that large parts of Indian industry may have withdrawn from the technological advances in the world. We have a lot of catching up to do. So he tried to encourage us and take us to new paradigms.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions