New Finance Minister P Chidambaram today unveiled his roadmap to boost investment and economy by fine-tuning policies to put in place a stable and non-adversarial tax regime, a possible cut in interest rates and measures to attract domestic savings and foreign capital. In an apparent break from the recent past, he has directed a review of tax provisions that have a retrospective effect in order to find a fair and reasonable solution to pending as well as likely disputes between the tax department and assessees concerned. Making a detailed statement, Chidambaram, who took charge of the finance portfolio last week, also made an obvious reference to recent controversies over retrospective amendment to the Income Tax Act and GAAR (General Anti Avoidance Rules) provisions in the Budget of his predecessor Pranab Mukherjee, Chidambaram.

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