In the present financial year 2021-2022, the government has increased the price of petrol 39 times and decreased once, while the diesel price was increased 36 times and decreased twice. In 2020-2021, the price of petrol was raised 76 times and reduced 10 times and that of diesel increased 73 times and decreased 24 times.
Whether against Vodafone or Cairn, the cost in terms of time and spoiled investment ambiance for the nation is much above any rewards to the exchequer. The government’s intention of imposing the sovereign right to tax will create tremendous confusion or misperception and adversely affect the investment atmosphere. For a nation famished of private investment in infrastructure, this is self-defeating policymaking. The NDA government would have scrapped the remorseful provisions of the Income-tax in its first Budget itself.
