Statement Regarding Non-Government Task assigned to Three Back-Bench MPs

first_img The Prime Minister has assigned persons on the back benches of Parliament various tasks in support of the development of broad policy.These assignments are not part of the formal parliamentary process.For example, the Prime Minister assigned Senator Matthew Samuda the task of studying the impact of plastics on the environment and ways in which its effects can be managed.This resulted in a resolution being tabled in parliament to ban the use of single-use plastics and straws.Other Senators and backbenchers have been given assignments as well.The current process has been particularly about how to integrate persons will disabilities and in state care and how to improve their prospects for employment.This is an area that has not had much attention.It is important that the party and the parliament has a deeper understanding of how this can be done.Those assigned will not be using any government resources to do these tasks nor will they have charge of any staff.These tasks are to be executed in their capacity as private members of the House of Representatives.There is no appointment or formal committee.The expectation is that as private members of the house, they will study these issues and understand the best practices both here and internationally.They will also be expected to assist in building awareness within the party, nationally and also champion the cause in the parliament as private members. For example, the Prime Minister assigned Senator Matthew Samuda the task of studying the impact of plastics on the environment and ways in which its effects can be managed. These assignments are not part of the formal parliamentary process. The Prime Minister has assigned persons on the back benches of Parliament various tasks in support of the development of broad policy. Story Highlightslast_img read more

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FMs steps will strengthen Indias position as global investment destination says US

first_imgWashington: 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. Also Read – Saudi Crown Prince ‘snubbed’ Pak PM, recalled jet from US “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 Asia during the previous Obama administration, exuded confidence that these reforms will help India attract additional foreign investment, unlock much-needed credit to sustain business growth and innovation, and ensure that India remains one of the world’s fastest growing major economies. Also Read – Record number of 35 candidates in fray for SL Presidential polls “As a package, the proposals will strengthen India’s position as a global investment destination,” Biswal said. By removing surcharges on capital gains tax for foreign portfolio investors (FPIs), deepening the bond market with the creation of a credit default swap market, and eliminating debenture redemption reserve requirements, the Finance Ministry has sent a strong positive signal to the many foreign investors watching India’s capital markets, she said. The government has buoyed efforts to support innovation and make India a hub for entrepreneurship and startup capital with the move to eliminate the angel tax on startups, Biswal said. USIBC welcomes the recapitalization of public sector banks (PSBs), which will benefit corporates, retail, and all market segments, she added. “We also see new measures to simplify GST particularly the commitment to ensure GST refunds within 60 days as a critical step to give both US and Indian companies confidence in the predictability of India’s tax system,” Biswal said. US India Strategic and Partnership Forum (USISPIF) also welcomed Indian Government’s announcement on withdrawal of the higher surcharge on non-corporate Foreign Portfolio Investors (FPIs). “The move will go a long way in reviving the investment sentiment of foreign investors and will provide a much-needed impetus to the Indian economy, the USISPF said in a statement. Several other measures announced by the Finance minister include speedy GST refunds, faceless assessments, No Angel tax for start-ups registered with DPIIT and simplification of GST systems, it said. “These reforms are noteworthy moves towards improving ease of doing business in India and attracting investments. USISPF is committed towards working with the Government of India to drive economic growth and objectives of the country,” it added.last_img read more

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