State of India’s growth

It is easy, and frustrating, to highlight the central government’s actions that have led to investors fleeing the country. High fiscal deficits, more so if you include oil subsidies of around 1.5% of GDP, have meant the government leaves that much less money for private investors; the government’s investor-unfriendly attitude is best exemplified by the Vodafone retrospective tax amendment, but goes on to the doubling of income tax disputes to R436,741 crore in the 12-months ending December 2011.

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