Scrapping retrospective tax may not be enough to repair India's reputation

Political executive will need to strive for a fairer playing field, writes Andy Mukherjee.

Ater pussyfooting for seven years and damaging its international reputation, India’s government has finally taken a decisive step toward ending “tax terror,” fulfilling a pledge it had made during the 2014 campaign that first brought Prime Minister Narendra Modi to power. Is this a fresh start, the beginning of an open, predictable, and fair relationship between New Delhi and global capital? It’ll require a lot more evidence to answer that question in the affirmative.

The finance ministry has moved a bill in parliament to scrap retrospective taxation. Introduced in 2012 by the previous Congress Party-led coalition government, the draconian overreach