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The RBI and SEBI are expected to soon finalise guidelines for infrastructure debt funds, paving the way for US pension funds and other long-term investments to flow into infrastructure sector here.
This was conveyed to the visiting US Secretary of State, Ms Hillary R. Clinton, by the Finance Minister, Mr Pranab Mukherjee, here today.
An official US delegation led by Ms Clinton had called on Mr Mukherjee at North Block in the Capital.
Speaking on the occasion, Mr Mukherjee said that India gives high importance to India-US Strategic and Economic Partnership.
He also highlighted that India was carrying forward its reforms agenda by making major changes to its tax systems and laws – both direct and indirect taxes.
On direct taxes, efforts are on to make Direct Taxes Code (DTC) effective from April 1, 2012, he said.
On indirect taxes, efforts are on to build a consensus among all the stakeholders including state governments to make Goods and Services Tax (GST) effective at the earliest, he added.
Ms Clinton hoped that the relationship between India and US in the field of trade, infrastructure investment, defence and strategic matters would be further strengthened.
She said that India can play a major role in enhancing regional economic cooperation and optimising the large potential available in this region.
Ms Clinton specifically mentioned that India can play a major role in the economic development of Afghanistan.
Responding to that Mr Mukherjee said that India was already engaged in economic development of Afghanistan and helping it in building roads and improving power generation among others.
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