India - Partner In Growth
Welcome to the May 23, 2017  bulletin of key policy decisions and high-impact news, presented by the Embassy of India, Washington DC.
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FM Jaitley Launches 'Operation Clean Portal' for Tax Compliance
The Government has launched a new online portal called "Operation Clean" to investigate tax evaders. The portal, designed by the Central Board of Direct Taxes, will identify those who have made large deposits or purchases and which are not in line with declared income. This follows the Government's "Operation Clean Money," against black money. "It is time of reckoning for those who evade tax," Jaitley said.

Govt. OKs Convention to Catch International Tax Cheats 
The Government has approved the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. The Convention is an outcome of the OECD / G20 BEPS Project to tackle base erosion and profit shifting through tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low- or no-tax locations where there is little or no economic activity, resulting in little or no tax being paid. 
Govt. Approves Pharma Mission to Develop Bio-Pharmaceuticals  
The Government has approved a program for developing bio-pharmaceuticals through an industrial-academic collaboration, investing $225 million over five years. The program will focus on development of vaccines, biotherapeutics, medical devices and diagnostics.

Make in India: Govt. OKs 10 New Nuclear Reactors, Sees Job Surge