Now scrap regressive tax rules for India’s good

Union Minister for Finance Pranab Mukherjee has done the right thing by deferring the implementation of the controversial General Anti-Avoidance Rules for a year. This outrageously regressive ploy to mop up funds had invited sharp criticism from investors at home and abroad after it was announced by the Finance Minister in his Budget for 2012-13. Both investors and industries rightly believed that it would worsen the already damp market sentiment and impact the flow of foreign funds. 

Read Full Story>>