Around 15 months ago the Finance Ministry said claims that MDR would be charged on UPI were "completely false, baseless and misleading, and reaffirmed its commitment to promoting digital payments through UPI."
Today there is a U turn. From 15 October a 0.4% MDR will apply to specified person to merchant UPI transactions above Rs 2,000.
When STT was introduced, Parliament was told it was in lieu of capital gains tax on listed equities.
We now pay both STT and capital gains tax.
Dividends, once taxed at the company level, are now taxed in shareholders hands at slab rates.
What happened to Dream11?
Courts treated fantasy sports as a game of skill. Rules were later framed for permissible real money games. Then a law banned online money games.
Who allowed it, who banned it, and what material change occurred in those few years?
The problem is consistency and credibility. That is why so many people keep questioning official GDP growth rate to inflation numbers.
If the government had enough credibility, this level of scepticism would not exist.