New York, June 19 (KNN) Any decision which is retrospective, except in some very unusual circumstances, which creates fresh liabilities is certainly not acceptable, Finance Minister Arun Jaitley said with regards to retrospective taxes.

"Therefore, ever since the present government has been formed, we said it when we were not in government and therefore we've lived up to our word, this government will not legislate anything that is retrospective," he said during an interaction at the Council on Foreign Relations in New York, reports media.

"Many of us who have done business in India have experienced retroactive changes to some of the investment regulations by the government or the Reserve Bank of India. In the spirit of expanding the opportunity for foreign investment, I'd like you to please talk a bit about the philosophy of those retroactive changes making transactions a bit more difficult to underwrite," Jaitley was asked by a US businessman.

While addressing a question on infrastructure, FM said the Union Government has started putting money in this sector.

Jaitley, who is on a 10-day visit to the US, had yesterday said under the leadership of Prime Minister Narendra Modi, India's relations with its neighbours have improved.
Economic trade relations with China has become fairly normal, he said, adding that the Prime Minister recently got a very rousing reception in China. 

On Pakistan, Jaitley said India is interested in improving relationship with it. (KNN Bureau)