IPR, innovation critical ingredients of economy: Nirmala Sitharaman


Intellectual Property Rights and innovation were critical ingredients of the economic framework, according to Union Finance Minister Nirmala Sitharaman.

The Finance Minister made this remark at a virtual meeting organised by the SASTRA, Deemed to be a University, Thanjavur, to mark the inauguration of the Nani Palkhivala Centenary Celebrations on Friday.

Describing the late Nani Palhkivala as a versatile genius, Ms. Sitharaman outlined the commitment of the Central Government to ease the burden on the taxpayers and simplify the tax structure.

Stating that digitised assessment and ‘faceless’ appeals were on the cards, she said that transparency in handling tax disputes was the primary agenda of the Ministry of Finance and this would be achieved by comprehensive reforms to be made in the assessment and scrutiny processes.

Ms.Sitharaman delivered the 16th Nani Palkhivala Memorial lecture and launched the TATA Palkhivala Chair on Artificial Intelligence and Alternative Dispute Resolution.

N. Chandrashekaran, Chairman – Tata Sons, recalled Nani Palkhivala’s association with the company and appreciated SASTRA’s efforts to salute his memory.

Giving a perspective of the situation relating to case-related arrears pending before India’s courts, he said that increasing confidence in judicial machinery and cooperation between parties for dispute settlement were essential to create a transformational change in the litigation scene.

S. Vaidhyasubramaniam, Vice-Chancellor, SASTRA, Deemed to be a University said that a year-long celebration was being planned in memory Palkhivala whose contribution to the law was legendary.

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Printable version | Sep 27, 2020 11:27:30 PM | https://www.thehindu.com/news/cities/Tiruchirapalli/ipr-innovation-critical-ingredients-of-economy-nirmala-sitharaman/article32297324.ece

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