Zee Media Bureau
New Delhi: Finance Minister Arun Jaitley on Wednesday said that retrospective taxation policy was a bad idea and undoing is not enough.
However Jaitley maintained that no steps will be taken to give contrary signals adding that India is open to privatisation of certain loss-making public sector companies.
"Certainly I would be interested to look at some PSUs (which) could do much better in private hands," Jaitley said during an interaction at the World Economic Forum in New Delhi, referring to public sector undertakings.
The FM added that a lot needs to be done to improve the Indian economy which has seen stagnation in the last couple of years.
Asserting satisfaction with government's performance so far, Jaitley said that there are bound to be certain obstructions and hurdles but one need not be bothered much about those.
"India had fallen off the global radar, however people have started looking back at us. There is lot of buzz around India globally. There is a return in confidence that India will once again be a place to invest in," he said
Jaitley also added that people outside are reconsidering their decision to invest in the country.
Jaitley shared his vision of the nation's rising global influence and achieving equitable growth for its population during the ongoing World Economic Forum's (WEF) India summit that begun yesterday.
More than 700 leaders from business, government, civil society and academia from 45 countries will take part in the three-day India Economic Summit, organised by WEF in partnership with industry body CII.
Under the theme, 'Redefining Public-Private Cooperation for a New Beginning', the summit convenes against the backdrop of significant economic growth and progress in reducing poverty in most parts of India, but also persistent inequality.
Among the corporate honchos attending are Mahindra and Mahindra CMD Anand Mahindra; Chairman of Microsoft Corp India Bhaskar Pramanik; Bharti Enterprises Founder & Chairman Sunil Bharti Mittal; Godrej Group Chairman Adi Godrej; Hindustan Unilever CEO & MD Sanjiv Mehta; Executive Vice Chairman and MD of Kotak Mahindra Bank Uday Kotak; CMD of SREI Infrastructure Finance Hemant Kanoria; CMD of Hindustan Construction Company Ajit Gulabchand; Founder & CEO of MakeMyTrip India Deep Kalra.
With Agency Inputs
