Need to reduce compliance burden for companies: Kamath
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National Bank for Infrastructure Finance and Development (NABFID) chief KV Kamath on Friday said that there is a need to reduce litigations while also easing the compliance burden for companies in the country.
National Bank for Infrastructure Finance and Development (NABFID) chief KV Kamath on Friday said that there is a need to reduce litigations while also easing the compliance burden for companies in the country. Kamat said the government needs to bring down the burden of litigation and tax laws very quickly. Addressing an event of industry body FICCI, he said, “… there is a need to fix the level of compliance and the compliance burden.” Kamat said the government itself has identified compliance issues when it comes to simplifying various procedures for doing business.
However, he dismissed the possibility of negative impact on investor confidence due to this, saying that wherever investors see value, they will go there. Kamat said the overall global sentiment on foreign direct investment (FDI) has been impacted. He said that once the capacity utilization of the companies crosses the limit of 85 percent, the capital expenditure of the private sector will start gaining momentum. He said that business giants are holding back their investment decisions till there is demand for their products. He, however, added that the demand has not slowed down.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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