(Image source from: Jaitley’s Budget Energising NRI Investors)
Right from the change in government, NRIs and Foreign Investors were given higher importance in the investment sector. After resolving the issue of PIO cards, the government has provided sufficient room for the Indian Diaspora to invest in industries, and other manufacturing sectors. The Union budget for the fiscal year 2015-2016, prominently encouraging the foreign investors, especially Indians from abroad.
The ease in taxation, stress on implementing the GST, reduction in corporate tax, lowered taxation for the products manufactured locally (in India) are very positive for bringing huge capital from NRIs. As per the budget notes the restrictions in investing by NRIs in real estate, industries were limited and providing higher room from the government.
The government’s target of achieving double digit growth can be realized in few years if the norms of starting ventures are eased further.