Finance Minister P Chidambaram assured that the government would introduce more reforms in order to support the country's economic growth with a stable environment.

   He said this at a conference, 'Economic Growth and Changes of Corporate Environment in Asia'. He said the government would take more steps to push reforms, boost investor sentiment and provide stable tax laws.

   Recently, the ministry cut withholding tax on overseas borrowings to 5 per cent from 20 per cent and approved the Rajiv Gandhi Equity Savings Scheme to attract first time investors to stock markets.

   Underlining the need for clarity in tax laws, Chidambaram said lack of clarity in laws can create a great degree of instability in the environment which is not good for economic growth. And one of the most important contributor to stable environment is clarity in law, especially tax laws, fairness in tax administration, and non-adversarial approach to tax administration and collection of taxes and above all a fair and quick dispute resolution mechanism, he said.

   The minister asked the lawyer community to endorse strongly the steps the government has taken to provide an environment of stability that will help corporates make their contribution to economic growth.

   Chidambaram said the Companies Bill introduced recently in Parliament seeks to address the issue of good corporate governance, investor protection and corporate social responsibility. He said good economic and financial practices, transparency and accountability in corporate dealings are a pre-requisite for a vibrant corporate culture.