Lok Sabha Speaker Om Birla on Friday stressed that the recent initiatives in simplification and transparency in financial laws have provided an enabling environment for investment in India. Today's India with deeper democratic spirit, stable Government and visionary leadership, is a land of immense opportunities for the investors, he noted. The fastest growing economy in the world is a favourite destination for investment across the world, he added.
Birla made these remarks 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) at New Delhi. Members of Parliament Faggan Singh Kulaste, Bansuri Swaraj also spoke on the occasion.
Referring to legal reforms in India, Birla noted that 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, Lok Sabha Speaker 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, he observed. Progressive laws always take into consideration the changing requirements of the country and the society and the changing international scenario, he added.
Mentioning that India's financial institutions are its strength, Birla noted that our financial institutions command respect all over the world. Hailing the contributions of the ICAI, Birla opined that this institution not only plays an important role in ensuring transparency in financial system but also for guiding the country on mass production with minimum cost. Playing a vital role in strengthening economic potential of the country, the ICAI, with its management skills, is improving the lives of the people.
