“It seems the private investors have lost faith in the Indian government or vice–versa,’’ said Congress Rajya Sabha MP P. Chidambaram on Monday while taking part in the discussion on the Appropriation Bill and the Finance Bill, 2022 which was moved by Finance Minister Nirmala Sitharaman in the House.
Stating that the private players are vital contributors to the growth of the economy ,Mr. Chidambaram said this is an area that the government needs to look into as we go into a tough year ahead. “It is best to be forewarned and prepared as the world’s economy is undergoing a churning,’’ he advised.
He also sought the immediate replacement of the Income Tax Act by direct tax code stating that the current regime benefits only chartered accountants and lawyers. He said this Bill indicates that “there is something seriously wrong with the Central government’s proposed tax policies and administration.’’
