Scrapping of retro tax provisions revived overseas interest in India's privatisation plan

New Delhi, Aug 15 The governments decision to nullify retrospective taxation provisions has brought fresh lease of life to its strategic disinvestment plan with growing overseas investor interest in picking up management control of public sector undertakings put on the block for privatisation.

Government sources said that they have received enquiries from foreign multinational corporations about participation on its strategic disinvestment plan and the pace has increased post the Centre's decision to amend retrospective taxation provisions in the Income tax Act, bringing about certainty on taxation regulations and improving country's ranking several notches on ease of doing business index.

Accordingly, the strategic disinvestment proposals of companies Ferro Scrap Nigam Limited

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