India’s New Budget was just announced on 28 February 2015. Less than 48 hours after releasing his 190 page budget, India’s Finance Minister Arun Jaitley was on a jet heading to New York to discuss how the new government will reform the country. One step, abolishing the wealth tax.
“It ultimately means more revenue for the state,” says Gunjan Bagla, CEO of Amritt Inc, a consulting firm helping U.S. companies do business in India. ”The surcharge on income is acceptable for the rich because now they don’t have to disclose assets, which means there is no incentive to move things offshore.”
Last updated: July 9th, 2024
Amritt Inc. is a management advisory service facilitating trade between the world and India. Amritt was founded in 2003 and since then it has provided guidance to western companies in entering new markets, global strategy execution, finding and managing supplier partners, and establishing overseas offices. Our primary focus is in helping American, Canadian and European executives to attain success in India.
