Finance Ministry to look into tax issues, suggestions of FPIs: Shaktikanta Das

The finance ministry has promised to look into some taxation issues raised by foreign investors, some of which may be addressed in the budget next year, Economic Affairs Secretary Shaktikanta Das said on Tuesday, 20th September 2016 after the meeting with about 35 major Foreign Portfolio Investors (FPIs) including CITI, JP Morgan and Goldman Sachs.

“They are looking at bigger opportunities for investing in Indian market. So overall outlook, I would say, is very, very positive,” Das told reporters after a threehour meeting between foreign portfolio investors and officials.

“Nobody had reservations about fundamentals and the robustness of where Indian economy is today positioned,”

Foreign investors came up with anumber of specific suggestions on process simplification as well as other issues. They also raised some taxation issues as the revenue department also participated in the meeting. “We will examine and look at the suggestions they have made,” Das said. “The government would like to consolidate India’s position and attract more of investment. We will interact among ourselves with agencies like RBI (Reserve Bank of India) and Sebi (Securities and Exchange Board of In .