Thursday, 31 January 2013

Just some relaxation, or an appeasement?

Tax MinisterThis has been in the news that P. Chidambaram, the Finance Minister is contemplating an imposition of an additional tax on the people who are super rich in the country including the other Indians abroad belonging to this category as potential investors. He has since come out with a clarification in the matter that he has no mind to go ahead with increase in tax for the global investors. He may, he said, find out other measures to increase the revenue. Why such a shift in stand? Obviously it is from the point of view of the elections just due the very next year, an essential factor from the electorates angle. This is some thing which can be called more as an appeasement to the power segments that be from an election point of view than any that of any sort of relaxation.

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