BUDGET 2017 ATTRACTS FUND FROM FPIs

Posted on

FM Arun Jaitley announced a number of steps in the Union budget to draw funds from foreign portfolio investors (FPIs). The proposals include an exemption from the provisions of indirect transfer tax for category I & II FPIs. The indirect tax provisions will still apply to category-III FPIs like corporate bodies, trusts and family offices. Category-I FPIs include foreign central banks, sovereign wealth funds and government agencies. The category-II mutual funds and banks. However, hedge funds, individuals and other high-risk foreign investors will not get this relief.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s