The government’s retrospective amendment of tax laws has not been received well by the business community. The amendment has been brought by a beleaguered government that, having lost its case in the courts, is trying to win by undue means. Any business that invests money does so on the basis of the rules prevalent at the time of investment and abides by them. The government may have won a small battle, but the country’s credibility as an investment destination has hit an all-time low. Even as one can understand the government’s actions as it seeks to maximise revenue to fight its poor financial position, the absence of any noise from the opposition parties is baffling. Their quite demeanour betrays their political opportunism for they think this matter may not win them votes. They perhaps do not wish to be seen supporting businessmen. Or maybe they feel that since the issue does not concern the “aam aadmi”, there’s no point raking over it in Parliament. This, to my mind, speaks of the country’s political bankruptcy.
S R Balasubramanian Surajkund, Faridabad
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