Thursday, May 3, 2012

Do we have backbone?

FII's are blackmailing Indian government in GAAR issue.

Everybody knew that the mauritius route is being used to evade tax. When the government try to take on the evaders they resort to blackmail. Now  FII stop trading in Indian bourses ( well many of them). It is like a cartel and they openly challenge Indian government. They dont want to be taxed for the huge profit they make in Indian markets.

Now they are waiting for May 7th to know the government response for their virtual undeclared strike. I hope government show some spine and tighten the screws on this sharks. If they can invest in every other country by paying the necessary taxes why not here? Also it is rumoured these money are actually Indian black money re-routed. I think even if we tax all these mauritius firms also, after a knee jerk reaction they need to continue here as India is reasonably growing compared with others. They are just checking our endurance.

Let us see what govt is up to?

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