Modi Pro-business

Indian Prime Minister Narendra Modi came to power in 2014 with a promise: "Less government, more governance." When it comes to the economy, it turns out India can't afford less government just yet.

PM Modi has pledged to overhaul the nation's tax regime. However the pro-business government was caught flat-footed in a row with foreign portfolio investors over demands they pay the minimum alternate tax, for which they had not previously been liable.

Union Finance Minister Arun Jaitley has said the Narendra Modi government does not believe in a high taxation regime but is being pro-business and pro-poor at the same time.

Former deputy Chief Minister of Bihar and BJP leader Sushil Modi today said that a pro-poor government would also have to be pro-business government for revenues to generate for the state.

Colao said, "I read during the electoral campaign very pro-business ... statements from the winning party."

Vodafone chief executive Vittorio Colao has challenged India's incoming government, led by Narendra Modi's BJP, to back up its pro-business credentials by resolving the telecoms group's long-running tax dispute in the country.

Dassault Aviation Chief Executive Eric Trappier said he hoped to sign a deal to sell Rafale fighter jets to India by the end of the year following the election of pro-business candidate Narendra Modi as the country's new prime minister.

While the outcome of national elections will likely have a positive impact on the rupee if the opposition Bharatiya Janata Party's pro-business leader Narendra Modi was to form a new government, analysts said the wide balance of payments gap coupled with a high current account deficit will prevent any sharp gains.

Investors in the infrastructure sector appear little concerned. Betting that a new government under pro-business opposition candidate Narendra Modi will emerge from elections and restart investment, they have driven the CNX Infrastructure Index up by 18 per cent since early February, beating an 11 per cent rise in the broader market.

Indian Prime Minister Narendra Modi came to power in 2014 with a promise: "Less government, more governance." When it comes to the economy, it turns out India can't afford less government just yet.

PM Modi has pledged to overhaul the nation's tax regime. However the pro-business government was caught flat-footed in a row with foreign portfolio investors over demands they pay the minimum alternate tax, for which they had not previously been liable.

Union Finance Minister Arun Jaitley has said the Narendra Modi government does not believe in a high taxation regime but is being pro-business and pro-poor at the same time.

Former deputy Chief Minister of Bihar and BJP leader Sushil Modi today said that a pro-poor government would also have to be pro-business government for revenues to generate for the state.

Colao said, "I read during the electoral campaign very pro-business ... statements from the winning party."

Vodafone chief executive Vittorio Colao has challenged India's incoming government, led by Narendra Modi's BJP, to back up its pro-business credentials by resolving the telecoms group's long-running tax dispute in the country.

Dassault Aviation Chief Executive Eric Trappier said he hoped to sign a deal to sell Rafale fighter jets to India by the end of the year following the election of pro-business candidate Narendra Modi as the country's new prime minister.

While the outcome of national elections will likely have a positive impact on the rupee if the opposition Bharatiya Janata Party's pro-business leader Narendra Modi was to form a new government, analysts said the wide balance of payments gap coupled with a high current account deficit will prevent any sharp gains.

Investors in the infrastructure sector appear little concerned. Betting that a new government under pro-business opposition candidate Narendra Modi will emerge from elections and restart investment, they have driven the CNX Infrastructure Index up by 18 per cent since early February, beating an 11 per cent rise in the broader market.