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Tuesday, October 23, 2012 - 09:25 IST
India cuts tax on rupee infrastructure bonds
BY Reuters
The government has given prominence in its latest economic and fiscal reforms to repairing India's sagging infrastructure, including establishing a National Investment Board to speed up clearance for projects.
India is seeking to boost investment by slashing its withholding tax on rupee-denominated infrastructure bonds to 5 per cent from 20 per cent, a Finance Ministry document seen by Reuters shows.
The lower tax will apply to bonds...
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