Cong slams govt for waiving MAT on FIIs

Congress on Wednesday criticized the Centre for its decision to waive the (MAT) on foreign institutional investors (FIIs), saying it had proved once again that the Modi government was indeed a "suit boot ki sarkar, rather than a government of common investors, Indian entrepreneurs, farmers and service providers Stock Market Trading Tips

The party attacked the government for waiving MAT on capital gains made by FIIs retrospectively and questioned whether India had now become a "tax haven". 

"We condemn the opaque decision of Modi government to give extremely lopsided and unreasonable benefits to foreign firms and individuals who are benefiting out of Indian domestic market," Congress spokesman Abhishek Singhvi said. 

"This government forms policies, takes decisions and makes statements without applying their mind to it... Convoluted manner of decision-making has become the hallmark of Prime Minister Narendra Modi and finance minister Arun Jaitley," Singhvi said. 

He added that Jaitley had just three months back said the government would press ahead with Rs 40,000 crore tax demand on FIIs as it was "reasonable" and wondered how the FM had found the tax demand "unreasonable" now Financial Astrology Tips 

"Has India become a tax haven now?" he asked. 

Stating that the decision had again proved that this was a government of flip-flops which "acts first, thinks later", Singhvi said the government would be answerable to Parliament for "blatantly waiving" Rs 40,000 crore owed to the Indian people. 

"Having declared in Parliament that Rs 40,000 crore tax would not be waived, now he (Jaitley) is giving it to cronies," Singhvi said, adding that the country wanted concrete answers to these questions and any hedging on part of the government would prove "under the table deals and compromise of national interest Commodity Market Astrology Tips