Jaitley also proposed to extend a liberalized facility of five percent withholding tax to all bonds issued by Indian corporate abroad, extending validity up to 30/06/2017.
Commenting on the financial sector, Jaitley said there are some important recommendations for the sector i.e., enactment of the Indian Financial Code, which is considered necessary for better governance and accountability.
Jaitley in his budget address also announced much more liberal and ambitious Bharat Depository Receipt (BhDR) scheme. He also allowed international settlement of Indian debt securities and completely revamped the Indian Depository Receipt (IDR) scheme.
Jaitley said that the Indian capital market have been a source of risk capital for growing
Jaitley also announced introduction of
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