Fiscal Jurisprudence ridiculed? – by Ankit Bhatia

Bonjour, perpetually perusing mortals !
I know  ..  some inclinations persist perpetually ;) Never ever attain cessation ! Incessant perusal addiction rocks !! Perpetually .. be stimulated !!
LoL ! Sarcasm was not necessarily in context of thou blog perusal habit ! Well  ..  not necessarily!
Well  ..  Last week  ..  no blogs  ..  well  ..  Indian weddings  ..  you know  ..  this ought suffice the rest as a corollary  :)
Well  ..  my ingrained blogger albatross, despite still enduring party blues at worst, has been prompted by some fiscal, though apparently, perturbing developments, atleast to me, personally ! Glide on !
Financial express today jolted my mailbox (& my wedding party blues) – via this fiscal offensive alert:
To my comprehension, aforesaid fiscal proposals seem apparently flawed, indulging in attributing some inconceivable economic rationale – from the fiscal jurisprudence principles or economic perspective !
In my advisory assignments, specially in global investment bank, of pharmaceutical corporations, specially Indian, all pharma corporations have invariably been on the applauding side – of the critics – towards the Indian fiscal jurisprudence – attributing the applaud to the rational & various enhanced fiscal incentives – like Section 35 AB etc – to inhouse research development activities – which is conducive to their global competitive edge – vs their global counterparts – in the era of rapidly enhanced technology systems in health sectors.
Consequently, aforesaid proposal seems a severe jolt to the anticipated enhanced investments in various research driven sectors, especially pharmaceutical, & to Indian global competitive edge, in case such fiscal proposals are implemented in the finance bill. On one hand, India preaches – being conducive to domestic value addition principle, however, on contrary, rebuts the same, by discouraging local research activity. Inconceivable rationale !
Worst intellectual jolt has been to witness the first proposal! Sunset clause to all investment-linked fiscal abatement!
The single & most effective fiscal tool, I perpetually applauded, has been – attributing the fiscal abatement – to the consequent economic contribution ! Instances of this prudent fiscal principle – are – likes of Sections 10A, AA, 80-IA, IB, IE etc. If any fiscal provision could boast off – in possession of the most concrete visibility of any fiscal initiative – that would be aforesaid para mentioned ones. Hence, consequently, worse is the dismay. The immediate outcome of Section 80-IE was visible – being emergence of sustainable economic activity in remote / under-developed tourist destinations, consequent job stimulation & economic growth.
Well  ..  aforesaid proposals would render mere despair in those – who were rightly anticipating – fiscal abatement – as a function of – investments or contribution to economic activity or initial value enhancing startups (crucial for economic stimulation), & rather be conducive to a perception of irrational fiscal abatement policy in India.