Lok Sabha Speaker Om Birla on Friday stressed that recent initiatives in simplification and transparency in financial laws have provided an enabling environment for investment in India.
“Today’s India with a deeper democratic spirit, stable government and visionary leadership, is a land of immense opportunities for the investors. The fastest growing economy in the world is a favourite destination for investment across the world,” he said in his inaugural address at the two-day symposium on ‘Adoption to Changing landscape: My Viksit Bharat – 2047′ organised by the Northern India Regional Council, Institute of Cost Accountants of India (ICAI) here.
Referring to legal reforms in India, the Lok Sabha Speaker said for the first time in India, an effort has been made to change colonial laws, to repeal the redundant laws and to make new laws which are in sync with the hopes and aspirations of people of New India.
Mentioning about GST, proposed income tax legislation, changes in labour laws and company laws, Birla emphasised that these initiates reflect the vision of the leadership to take the country on the path of progress and prosperity.
New laws are not only simple, transparent and progressive but also inclusive to improve the life of the last person in the society, the Lok Sabha Speaker observed.
Progressive laws always take into consideration the changing requirements of the country and the society and the changing international scenario, he added.
Stating that developments in the fields of infrastructure, road connectivity, rail connectivity, air connectivity have augmented the capacity to bring in more investment to the country, Birla observed that these investments will ultimately benefit the society at large.