Surjit Bhalla Committee on Trade and Policy 26/06/2019 – Posted in: Press Information Bureau
Surjit Bhalla Committee on Trade and Policy
(Ministry of Finance)
WHAT
High-Level Advisory Group (HLAG) headed by Dr. Surjit S. Bhalla has been constituted by the Department of Commerce.
AGENDA
- The High-Level Advisory Group will consider ways for boosting India’s share and importance in global merchandise and services trade.
- Managing pressing bilateral trade relations and mainstreaming new-age policy-making.
- The committee will identify and pursue opportunities and address challenges in the current global trade scenario.
COMMITTEE’S RECOMMENDATION
- The Report identifies tax reforms also to boost export and investment channels for exports.
- The Committee has recommended “Elephant Bonds” as a specialised security product providing funds towards Long Term Infrastructure.
- Reforms are needed in Financial Services Framework for making India a Preferred Destination for financial services.
ELEPHANT BONDS
Elephant Bonds are the 25-year sovereign bonds in which people declaring undisclosed income will be bound to invest 50 percent.
- The fund, made from these bonds, will be utilised only for infrastructure projects.
Source: PIB
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