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The Tax Justice Network's 'Corporate Tax Haven Index' identifies the UK, through its territories like the British Virgin Islands and Cayman Islands, as the top enabler of corporate tax avoidance. Switzerland, Singapore, and Hong Kong follow closely. The report estimates US$311 billion is lost globally due to multinational corporations' tax abuse, impacting heavily on FDI inflows.
Union Finance Minister Nirmala Sitharaman suggested the Arunachal Pradesh government adopt cluster development for better productivity and competitiveness of micro and small enterprises. She addressed a credit outreach and reviewed performance of Regional Rural Banks, urging focus on agriculture and allied activities while promoting financial inclusion through various government schemes.
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