Finance Minister Arun Jaitley on Friday hinted at more reforms in the upcoming Budget, saying the Centre will set up a financing model, with reasonable tax policies, to speed up investment flows.

“In recent times, I have met a number of investors who are keen on investing in the country’s infrastructure sector but they want a stable tax regime and a sustainable financial model and you will soon hear from us on this,” said Jaitley responding to a question by Reliance Industries Chairman Mukesh Ambani, at the Mumbai Next conference.

In the past few weeks the Government has had a series of international visitors, who have shown great interest in infrastructure financing, “I’m not going into the details of the financial models, but they are under active consideration and you will soon hear from us,” Jaitely said.

The Minister said the Budget will focus on reforms in power, energy, railways and ports and also hinted at more public investments in these sectors. “We cannot live on the borrowed means indefinitely. However, public investments will get a thrust. The whole concept of spending beyond your means and leaving the next generation in debt to repay what we are overspending today is never prudent fiscal policy.” The conference, organised by the Maharashtra Government, was attended by Tata Sons chairman Cyrus Mistry, ADAG chief Anil Ambani, and State Bank of India chairperson Arundhati Bhattacharya, among other corporate honchos.

Speaking via a video-link from Delhi, Jaitley said the Centre wants taxes to be paid wherever it is legitimate but no unfair effort will be made for their collection. “There won't be harassment.”

The Minister said that during the tenure of the past government, India was seen as a business unfriendly place, having a hostile taxation policy. But in the last few months efforts have been made to solve the taxation problems and settle the disputes.

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