India is poised to announce steps to draw more foreign investments by reducing taxes and removing caps on the ownership of some bonds as soon as this week, according to people with knowledge of the matter.
The cabinet on Wednesday is expected to consider a significant cut in the taxes paid by global funds on the nation’s bonds, the people said, asking not to be identified as the details are private. The cabinet will also consider whether it should eliminate the 20% levy on interest earned from bonds, or reduce it to a bare minimum, they said.
