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Indian budget draws huge round of business criticism

Published by Steve Coleman on April 02, 2012

India's new federal budget has earned the ire of the international business community, prompting warnings that the country could lose investors if some of the measures come to fruition.

Among the plans unveiled in last month's budget were proposals to let Indian tax authorities make retroactive claims on overseas corporate deals as well as a host of new anti-avoidance measures.

The recommendations spurred 250,000 businesses to sign into a letter criticizing the government's approach and warnings that investor confidence will take a hit.

Reuters takes an in-depth look at the story.



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