The action against the corrupt should not be seen as a government offensive against businesses: Prime Minister Modi
NEW DELHI: Prime Minister Narendra Modi said Monday that action against some corrupt entities should not be seen as government repression against corporate sector , while seeking to dispel doubts about the intentions of his regime.
Speaking at the centenary celebrations of Kirloskar brothers He said the attempt was to allow the industry to create wealth without fear in a transparent environment where there are no obstacles.
In this effort, the government is trying to rid the industry of the network of laws, the prime minister said, adding that for the past five years his government has worked honestly.
The attempt has been to provide transparency, efficiency and accountability in the tax system, and reduce the human interface with the tax department, he said.
In addition, the corporate tax has been reduced to its lowest level to encourage companies to invest, he said.
The prime minister asked the industry to avoid pessimism, and said the government will be shoulder to shoulder with India Inc in its attempt to expand its businesses in any corner and corner of the country.
He said the goal of almost doubling the size of the economy to $ 5 billion is only one phase and the goals are bigger and higher.