Controlling fiscal deficit, tax clarity,clearing FI proposal backlog top priority:PM

Prime Minister Manmohan Singh has assured the international community that India offers a level playing field for foreign investors and there will be no arbitrariness in tax matters. Speaking in an interview to a leading daily, the Prime minister identified, controlling fiscal deficit, achieving clarity on tax matters, reviving the mutual funds and insurance industries, clearing backlog of foreign investment proposals and boosting infrastructure as his focus areas in the short term. Dr Singh said, the country aims at fostering inclusive growth and efforts will continue to keep the country on the path of higher economic growth.

The Prime Minister said, his government would cut the red tape and improve the response time of government to business proposals. Dr. Singh said, a lot of investment avenues are opening up in railways, roads, ports and civil aviation. He said the doors are open for the world to strengthen India’s hands and contribute to these vital sectors which will give a further push to the economy. Dr. Singh said, the public debate now should move to how to make an open economy work for all.

He said the government is also inviting investors to help build the country’s infrastructure, a key enabler of future economic growth. The Prime Minister said, consensus building is the key to long-term economic success and they are steadily moving ahead in that direction. Regarding his visit to Pakistan, Dr. Singh said he was looking forward to it but there have to be suitable outcomes for such a visit.