War Of Words Between RSS Affiliate, BJP Leader On Twitter Over Modi Govt's Decision To End Retrospective Tax
The controversial retrospective tax amendments are believed to have adversely impacted India’s image as an investor-friendly destination.
New Delhi: In an unusual instance, the national co-convenor of Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch (SJM) and a BJP leader had an open argument over the Modi government's decision to end retrospective tax amendments.
Ashwani Mahajan, SJM's national co-convenor took to Twitter and claimed that the Union Finance Ministry's decision would cause a massive loss of revenue to the government and come as a "relief to thieves".
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"It is true that under pressure from international arbitration, government had no other option, but the title should be Relief to thieves – Thousands of Crores of Rupees Loss to Government and Public. A great example of disadvantages of foreign investment," he tweeted Friday.
BJP leader Dr Vijay Chauthaiwale, who heads the saffron party's Foreign Affairs Department reacted sharply to the claims, even going on to write that "Everything that is not criminal may not be in the larger national interest".
The war of words hit a halt as the SJM national co-convenor invited the BJP leader to debate over his "great beliefs", a proposal that awaits the latter's response.
The Narendra Modi government had tabled a Taxation Laws Amendment Bill 2021 in the Lok Sabha on Thursday seeking to amend the Income-Tax Act, 1961. The Bill passed by the Lok Sabha, aims to permanently end the retrospective tax amendments made in the I-T laws in 2012.
The controversial retrospective tax amendments are believed to have adversely impacted India’s image as an investor-friendly destination as the laws hounded big foreign companies, including Vodafone and Cairn Energy, with billions of dollars of tax demands.
In the statement of objects and reasons for the Bill tabled in the Lok Sabha, Sitharaman said that retrospective taxation continues to be a “sore point” for investors.
“In the past few years, major reforms have been initiated in the financial and infrastructure sector which has created a positive environment for investment in the country. However, this retrospective clarificatory amendment and consequent demand created in a few cases continue to be a sore point with potential investors,” she contended.
“The country today stands at a juncture when quick recovery of the economy after the COVID-19 pandemic is the need of the hour and foreign investment has an important role to play in promoting faster economic growth and employment,” the Union Finance Minister added.
Meanwhile, it is unusual for an official of SJM which is the economic wing of the RSS to openly criticise the Union government's move to bury the highly-debated retrospective tax amendments for good.
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