NEW DELHI: Anurag Singh Thakur, MoS for Finance and Corporate Affairs said the government is open to discussing a cut in commodity transaction tax (CTT). We can have a detailed discussion on that CTT, he added.
“If it is going to help the markets and the country, we will talk to various officers and departments and take action on that,” Thakur said.
Speaking at the CPAI’s 7th International Convention, Thakur said the NDA government has ensured that all hurdles are done away with and a common ground for commodities and equities is achieved.
“The accessibility of the market has been enhanced because of this. The vibrancy of the commodity market has to be ensured to support job creation and that includes a robust infrastructure. That is what I would like to ensure, including changes to be made in required laws,” he said.
Thakur said it was high time that India becomes a price setter than price taker. He noted that India has been the first country to launch diamond derivatives. It is also the largest polisher of cut diamonds.
“This reflects on the potential that the Indian commodity markets have. The reforms since 2003 with the support of the regulator. Since 2015, the Sebi has been regulating the market and has taken forward well,” he said.