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Corruption is a virus, says portfolio manager to PM Modi

International   |   Glibs Quick   |   Feb 04, 2020, 12:37 PM

Porinju Veliyath, Founder & CEO of Equity Intelligence India Ltd, addressed to Prime Minister Narendra Modi and said that while he is privileged to be followed by PM Modi and has been supporting PM's vision for India since 2012. 'Why make Dividends taxable (double tax) up to 42.7% for Indians & tax-free for foreigners? Isn't it harassment of honest Indian tax-payers who voted you to power? 42.7% extra tax on dividends will incentivize practical promoters to siphon off more! If you think your enforcement & policing can bring anyone in line, you are mistaken - these agencies can hardly scratch the corrupt in the current system.Corruption is a virus, it easily infects the guardians of law, they can't and won't fight it. It can only be contained by limiting opportunities!', he said. 

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