A Planning Commission panel has suggested allowing foreign investors to own a larger share in domestic insurance companies. The group, chaired by Planning Commission member Anwarul Hoda, has also said that foreign direct investment restrictions on reinsurance companies should be removed.
"If the tax holiday is withdrawn, STPIs will lose the level-playing field vis-a-vis special economic zones. We have recommended that the government either withdraw the tax holiday to SEZs or continue the incentive to IT companies," an official with knowledge of the deliberations told Business Standard. STPIs enjoy direct tax exemption under sections 10A and 10B of the Income-Tax Act, 1961. The benefits are scheduled to expire on March 31, 2009.
The 10th ministerial conference, will be held at Nairobi, Kenya.
The new mining policy must be rock solid
The India government needs to work on policies that can enhance global trade.
India is threatening to block the World Trade Organization (WTO)'s trade facilitation agreement (TFA) reached at Bali last year unless its agricultural policies are permanently excluded from multilateral scrutiny.