The Finance Minister, Arun Jaiely, has stated that the Minimum Alternate Tax will not be imposed upon the foreign institutional investors(FII) and foreign portfolio investors(FPI) prior to April 2015.  The Income Tax rules will be changed accordingly  as per the Minister.

This is a great bonus for these investors. The government will be losing lakhs of crores of rupees due to this concession, though the FM says that there will be no loss.

The government which denies to the toiling workers a minimum of Rs.15,000 which they have been demanding for a long time, has no difficulty in waiving lakhs of crores of rupees for the corporates and the big business. This indeed is a government of the corporates, for the corporates and by the corporates.