Deceitful laws turn all citizens into criminals. Scrap them.

India is perhaps the only country in the world where there is a collective obsession with the stock market. The narrative is simple. The stock market must keep going higher and higher, and for that to happen the economy has to grow faster and faster, for which interest rates must be brought down to low levels. There is no Bloomberg of Forbes to analyse the various parts of the economy and combine all the data to deliver a comprehensive review. One reason why the market is falling is because foreign investors are selling out. So far they have sold a fraction of their total holdings of over $150 billion, so we can imagine what will happen if they were to panic. Foreign investors are selling out on India because company earnings are not growing. For us simple folks this is very hard to understand. Can a company's profits keep on growing infinitely? Vast numbers of people in India are poor and if the economy grows they will make more money which they will spend on consumer goods and services, which will increase profits. We understand that. But surely, as soon as one company starts making pots of money in one field new ones will start up to take away some of the business. Just as every company in India has gone into construction to take advantage of the explosive rise of real estate prices due to the massive increase in black money under the Congress. While Volkswagen cars are selling well in India Skoda, which is a division of Volkswagen, is not doing so well. Hindustan Lever and Nestle are both foreign companies but whereas HUL has had Indian managers for decades Nestle relies on white men from Europe. Which may explain why Nestle responds with the white man's arrogance when challenged about the quality of its products. And then there is the government, which sees Indian consumers as a kind of blood bank to be bled at will. Our Chief Economic Adviser is ecstatic that indirect tax collections have gone up which must mean that people are spending more, which means increased demand, which can only be due to economic recovery. Is it? Business sentiment is down, estimates of future earnings per share is down and the purchasing managers index is down. Animal spirits has its tail between its legs. With the economy faltering and expectations of inflation rising, our esteemed Finance Minister has increased Service Tax from 12.5 to 14%. He has also sneaked in a law which forces us to deduct tax when buying anything from abroad. Firstly, we did not know about this tax and secondly, how in hell are we to know which company is abroad. Amazon advertises on our TVs and Foxconn is to manufacture iPhones in India. When buying anything from abroad you pay by credit card which carries service tax and there will surely be a tax on currency conversion. It violates the Double Tax Avoidance Treaty with other countries. People will ask relatives in other countries to buy for them and pay them in rupees when they come here. That way the government loses all taxes. Why do we always have lawyers as finance ministers who bring in laws to turn us into criminals and increase their own earnings. We hate sneaky gestapo laws. Get rid of them.