Nirmala Sitharaman silent on higher taxes for foreign investors
Updated : August 12, 2019 07:07 AM IST
Finance Minister Nirmala Sitharaman gave no indication at a meeting with foreign portfolio investors on Friday that she would withdraw a proposal to raise their taxes, some of the investors said.
FM Nirmala Sitharaman unnerved many foreign investors with the tax increases in her proposed budget, which parliament ratified last month.
The government was considering an exemption for foreign investors from the tax increase, which would be imposed on those on those earning more than 20 million rupees ($282,925.45) a year, sources told Reuters on Thursday.