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Modi Govt to review Companies Act, SEZ Act and all FTAs

By TIOL News Service

NEW DELHI, JUNE 14, 2014: THE Union Commerce Minister, Ms Nirmala Seetharaman, on Saturday said the her Government is gearing up to undertake a comprehensive review of a bundle of Acts like SEZ Act, Companies Act and also Free Trade Agreements signed so far. And the purpose is to restore the faith of investors in the economy.

She said that she would be holding a dialogue with all stake holders next Saturday. “The Act posed a lot of difficulties and there are areas, which are affecting the stakeholders. All these will be discussed and necessary actions will be taken,” she added.

As regards the SEZ issue, the Minister is keen to list out the irritants which have dampened the spirit of the industry going slow on investments. She is going to review the tax incentive aspect and ways to make it successful.

She said that all these steps are aimed at creating jobs for the growing army of unemployed in the country.

She also clarified that all these steps should not be interpreted as the Modi Govt is going back on the decisions taken by the UPA Government.



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