He said that there has been a fair degree of rationalisation on the indirect tax front and also in the administration and functioning of the income-tax department. Hence, it is the investor who will see lesser returns on his money. Adding to the woes was the move to levy tax on cement, which is also being taken as a negative for the market. This would have an impact on reduction of inflow in the hands of the recipients. Nothing is to be read in, nothing is to be implied.