DEATH AND TAXES

Here’s a major hurdle in the way of investment in India

Obsession
Modi's Moment
Quartz india
Obsession
Modi's Moment
Quartz india

₹458,312 crore ($78 billion): The amount of disputed tax claims against Indian companies and individuals as of March 2012. There are about 317,000 such cases held up in courts and tribunals, according to the latest annual report of the Ministry of Finance. Increasing tax-related litigation, such as the cases against Vodafone and Nokia, and uncertainty in tax law are often cited by experts as a reason for the slowdown in investment. Industry groups are hoping the new Narendra Modi government will simplify tax rules and remove ambiguity to stimulate the Indian economy, whose growth rate has fallen below 5%.

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