US industry hails India's mini-Budget, sees investment atmosphere improving

Hailing the slew of announcements made by Union Finance Minister Nirmala Sitharaman, the US corporate world on Friday said the comprehensive set of proposed reforms will provide needed stimulus for the economy and strengthen India's position as a global investment destination. The Indian government on Friday announced a raft of measures, including rollback of enhanced super-rich tax on foreign and domestic equity investors, exemption of startups from 'angel tax', a package to address distress in the auto sector and upfront infusion of Rs 70,000 crore to public sector banks, in efforts to boost economic growth from a five-year low. "We commend Finance Minister Nirmala Sitharaman and the Government of India on this comprehensive set of proposed reforms, which will provide needed stimulus for the Indian economy and ensure continued economic expansion, US India Business Council president Nisha Desai Biswal said. Biswal, who served as Assistant Secretary of State for South and Central As

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