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THIRUVANANTHAPURAM: The Minister for Water Resources, Mr T.M. Jacob, has urged the Union Finance Minister, Mr P. Chidambaram, to reconsider his budget proposal to impose a tax on the interest on bank deposits of non-resident Indians.

In a memorandum sent to Mr Chidambaram on Sunday, Mr Jacob said this proposal would have far-reaching consequences for Kerala's the economy. of the Kerala. The flow of remittances from abroad had already come down due to the fall in interest rates. in the recent times. The new proposal would worsen the situation further, he said.

More Stories on : Taxation | Taxation | Kerala

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