Govt to set up group to address concerns of FIIs: Finance Secy
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Last Updated: Wednesday, August 19, 2009, 20:57
  
New Delhi: The government on Wednesday decided to constitute a group of regulators to address the concerns of foreign institutional investors (FIIs) and suggest procedural simplification.

"A group will be set up of the regulators and government agencies to address their (FIIs) issues," Finance Secretary Ashok Chawla told reporters after a meeting of the Finance Minister Pranab Mukherjee with the representatives of FIIs and financial institutions (FIs).

On their concerns on taxation, especially the capital gains tax, he said, "They should send their comment (on the Direct Taxes Code). That will be taken into consideration."

In their meeting with Mukherjee, FIIs and financial institutions also raised issues with regard to the Securities Transaction Tax (STT) and procedures, Chawla said, adding, "We also discussed ways to strengthen secondary and bond markets."

Noting that FIIs continued to remain bullish on India, he said, the Minister in his meeting with them tried to get their perception on investment climate in the country and the difficulties faced by them.

Bureau Report


First Published: Wednesday, August 19, 2009, 20:57


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