ANDHRA PRADESH

Tax reforms set to boost Indian economy: expert

Special Correspondent

KURNOOL: Tax reforms proposed next year are going to be a watershed because it will integrate the Indian economy with the best in the world, K. Prabhakar Rao, Director of Business Intelligence, Capital IQ Information Systems (I) Pvt. Ltd, Hyderabad, has said.

He was delivering a talk along with another resource person, V. Sundar Raja, stock market analyst, on ‘Budget 2010' jointly sponsored by The Hindu Business Line and G. Pullaiah College of Engineering.

Mr. Rao said the government planned to introduce goods and services tax integrating all indirect taxes and director tax code for all direct taxes. All these changes were aimed at integrating the Indian economy with the top economies of the world. India would emerge as a global competitor.

Resilient

He said the global recession that swept the continents last year failed to break the nerve of the Indian economy which remained resilient and put up reasonably a good show. Mr. Sundar Raja said India had unbeatable banking system which saved the day. The western and American economy sunk because the banks there had exposure to volatile sectors. Banking sector was going to be strengthened further in India and more private banks expected soon. He said infrastructure and cement industry were going to do well.

Knowledge sharing

M. Somasekhar, Chief of Bureau of Business Line, said the paper launched three platforms to share its knowledge with students and young professionals -- Business Line Club, Business Line Investor Awareness programme and the present series of seminars.