India finalises details for tax-free bond issuance in 2012/13
MUMBAI (Reuters) - India will allow select companies to issue tax-free bonds in the rest of the financial year, finalising details of a proposal announced in the budget in February, according to a government notification obtained from two of the eligible issuers.
The government said in the notification seen by Reuters that a total of 535 billion rupees would be raised through issue of tax-free infrastructure bonds in the current financial year that ends in March.
The government has set a target for tax-free bonds at 600 billion rupees by infrastructure finance companies in 2012/13, which would be used to bridge the shortfall in cash to fund large projects.
(Reporting by Suvashree Dey Choudhury and Archana Narayanan; Editing by Subhranshu Sahu)
- Tweet this
- Share this
- Digg this
- Two killed, four wounded in Washington state school shooting
- Google's Pichai to oversee major products and services
- Wall St. finally turning on Amazon as Bezos magic fades
- Reuters Poll - India's growth pace to pick up as reforms draw investment
- WHO says Ebola vaccine plans accelerating as trials advance
Finance Minister Arun Jaitley favours a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the Reserve Bank of India (RBI) has signalled it will not ease policy until it is confident of lower inflation. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article