Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
Taxing super-rich could be counter-productive: Aditya Puri
Last Updated : 19 Feb 2013 01:35:24 PM IST
puri
Taxing super-rich could be counter-productive: Aditya Puri

 

HDFC Bank Managing Director Aditya Puri on Tuesday said the idea of taxing the super-rich could prove counter-productive and lead to evasions.

 


  "If you go back in the last 50 years, in any country,it has proved counter-productive. If you are charging the super-rich more, they know how to do their tax planning and you only lead to an evasion," he told reporters on the sidelines of a co-branded credit card, targeting the youth, launched by HDFC Bank and Times Card.

 

Finance Minister P Chidambaram had last month said that "when the economy requires, government requires more resources, the very rich willingly should pay a little more". The comments had stirred up a debate making investors looking for a stable tax regime uneasy.

 

Clarifying that he is neither against the move and nor supporting it, Puri said though it was "a good political move it does not serve any purpose".

 

Asked for his expectations from the Union Budget to be presented on February 28, Puri said one should be happy if  Chidambaram delivers on whatever he has been promising lately.

"I would be very happy if Mr Chidambaram is able to produce what he says is going to produce," Puri said, adding that he would watch out for areas like fiscal deficit,arresting subsidy burden and steps to revive investors' sentiment in the budget.

 In a bid to woo global investors, Chidambaram had done a series of road shows in financial centres like Hong Kong,Singapore and Frankfurt affirming the government's commitment to the reform process and resolve to stick to the road-map of fiscal consolidation.

 Puri informed that HDFC Bank is the largest player in the credit cards business, commanding a 35 per cent market share, and its portfolio stands at Rs 10,000 crore, the largest in the industry.


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Code

super luxury car maker Rolls-Royce is gearing up to tap the country's Billionaires with ne

Coming-of-age drama 'Boyhood' won three of the biggest awards at the BAFTA 2015 but it was

Sunny Leone is seen scorching the screen in the first look of Leela with her bold acts.

Samsung unveiled the Galaxy S6 and Galaxy S6 Edge at Mobile World Congress in Barcelona, S

Reality TV star Kim Kardashian reportedly wants Beyonce to buy a house in her gated commun

Automaker Renault India today said it will roll-out a multi-purpose vehicle 'Lodgy' and a

Pharma tycoon Dilip Shanghvi surpassed Mukesh Ambani as the world's richest Indian with a

When Holi is round the corner, can anyone forget all-time hit Bollywood songs?

In an interim order, the Bombay High Court has restrained the city police from arresting o

Good news for the fans’ of Salman Khan and Deepika Padukone.

Reality TV star Kim Kardashian has posed nude for the upcoming 10th season of 'Keeping Up

Bollywood superstar Akshay Kumar and Actress cum Entrepreneur Shilpa Shetty Kundra have pa

Kashmir witnessed season's heaviest snowfall as the arterial Jammu-Srinagar National Highw

Mexican actress Stephanie Sigman has joined Monica Bellucci and Lea Seydoux as the new bon

Luxury carmaker Mercedes-Benz launched the all-new compact B-Class in both petrol and dies

Bollywood actor Poonam Pandey, gets relief as a local court in Bengaluru quashed a case pe

Automaker Renault India launched the new generation Duster priced at Rs 8.30 lakh (Delhi e

Now Bollywood A-list actors are competing to get nude on-screen.

The 2015 edition of the International Indian Film Academy Awards is set to enthrall Bollyw

India defeated Zimbabwe by six wickets chasing 288 runs target in World Cup Match.

Paramount Pictures is ready to have more of Ethan Hunt with "Mission: Impossible 6" alread

An 11-month-old girl choked to death in Uttar Pradesh's Saharanpur district on Monday afte

If these images are to be believed, we would be seeing a couple of design innovations that


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.54