Centre wants domestic industry to invest in India: Jayant Sinha

New Delhi, Sept.8 (ANI): Minister of State for Finance Jayant Sinha on Tuesday said Prime Minister Narendra Modi has emphasized on the investment of domestic industries in India, even as industry leaders pressed for an interest rate cut and more policy action to improve the ease of doing business.

“The Prime Minister emphasized that the domestic industry should play its role and, its very important for domestic industry to invest in India, and we are seeing that India is a attractive place for doing business for the long term. Given that we are seeing strong inflows, both on the FDI(Foreign Direct Investment) side and the FPI(Foreign Portfolio Investment) side, so, it is important for domestic industry to invest,” Sinha said.

“There was some tax matters that was brought up in the meeting. Obviously with the budget coming up in a few months we will be having detailed consultations with industries. The GST(Goods and Services Tax) is the main concern as far as tax in concerned. The corporate tax code in terms of the road map for exemption is under consideration, and the revenue department will begin consultations with the corporate houses,” he said.(ANI)

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