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Its a great news for foreign investors in India as the government is showing that it is investment friendly and that it is going ahead in right direction for ease of doing business in India amending the laws and making it transparent. Make in India campaign will only be successful if the government shows more signs of improving ease of doing business and making it investment friendly and amending and abolishing old laws mainly in taxing.
Recently Bombay High Court has ruled that Vodafone is not liable to pay tax in India for their past acquisition of Indian company. And government has directed Income Tax Department not to appeal in Supreme court against the ruling of Bombay High Court. This shows that government wants to give clear message to the global investor community that the new government is investor savvy. At one side the government is looking to increase their revenue to contain the fiscal deficit at 4.1% and on the other side to make India investor friendly it is loosing receipts in such cases. Nevertheless investor confidence is more important than these few thousand crore.
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