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Working on FPI worries, says govt

Government working on resolving the issue for foreign portfolio investors debt investments; suggests they join pending case in SC and seek early hearing

Arun Jaitley, Jayant Sinha
Union Finance Minister Arun Jaitley and MoS Finance Jayant Sinha interacts with state finance ministers during a meeting of Union Finance Minister with the empowered committee of state finance ministers in New Delhi.

The central government is working on addressing issues related to the application of Minimum Alternate Tax (MAT) to debt instruments. The issue might be dealt with in the Finance Bill, incorporating the Budget proposals and awaiting Parliament passage. Meanwhile, foreign investors have also been asked to join the pending case in the Supreme Court on a petition against application of MAT. And, seek an early hearing. These issues were discussed in a conference call with foreign investors, organised by a foreign financial services firm. From the government were minister of state for ...