New Delhi, Admitting that Indian industry is going through many challenges, Finance Minister Nirmala Sitharaman on Tuesday said that the government is open to further reforms for making India a more attractive investment destination.The government has taken various steps, including reduction of corporate tax, said Ms Sitharaman at India-Sweden Business Summit organised by Confederation of Indian Industry (CII) in the National Capital.
“I only can invite and assure that the Government of India is committed for further reforms in various sectors whether it is banking, mining or insurance and so on,” she added. She invited Swedish firms to invest in infrastructure development projects. India plans to invest about Rs 100 lakh crore in infrastructure sector in the next five years.
When asked about reducing personal income tax to boost demand, Ms Sitharaman said the government will “take action at an appropriate time” and added that tax benefits to individuals are reviewed periodically. “People are approaching the government for fresh investment which will help to generate more jobs as well as make India a manufacturing hub in the future,” she said on the corporate tax reduction.