THE Indian National Congress Manifesto released yesterday emphatically states, We will ensure that the unpredictable risk of retroactive taxation is avoided. The reference is obviously to the Vodafone retro amendment. Who brought in the amendment? It was only the Congress party which brought in the amendment. Who asked them to tell the world that we dont hesitate to change the rules of the game after the opponent has won the game. When the Supreme Court ruled in favour of Vodafone, what was the necessity of bringing in a retro legislation? And if they were right then, why be apologetic now? Are they sending some coded messages to some stakeholders somewhere? Jairam Ramesh, the newfound economic wizard of the Congress party admitted that the retrospective legislation was a mistake; that it sent a wrong message to investors abroad. When exactly did they realise that it was a mistake? Just before the elections? Are they offering Vodafone on a platter to the new Government or are they hoping that they will come back without Pranab Da and PC and deal with Vodafone? The Congress manifesto also says that they will introduce the Goods and Services Tax Bill and a new Direct Tax Code Bill in Parliament and ensure they are enacted within one year. What they could not do all these years will be done in one year! Manifestos are for newsmen to analyse - not to be taken seriously.
Posted on: Thu, 27 Mar 2014 10:25:18 +0000
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