Redialling taxation

If top broking houses are re-rating India—Citi has upped its Sensex target to 19,900 by June 2013 and Morgan Stanley to 23,069 by December 2013—it’s because they sense reform is finally in the air. Whether it’s because the government has been forced to act for fear of India being downgraded to junk or whether the Congress party has got frightened by the results of internal polls done for it, the fact is the government looks a lot more purposeful.

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