This refers to the editorial, “Resolving tax troubles” (September 4). The NDA Government’s decision to not levy the Minimum Alternate Tax on foreign institutional investors is a welcome move and has the potential to turn around not only the investment scenario but the economy as well.
The timing of this decision is crucial, considering Jim Rogers’s exit from the Indian market and the impact of China’s market crash. Yes, it looks to be a stand change by this Government, considering what Finance Minister Arun Jaitely said four months back, but it is the need of the hour and it is good to be pragmatic, if we are keen to change the investment scenario in our country.