Indian equities rose sharply in Tuesday’s afternoon session after Finance Minister Nirmala Sitharaman said discussions around long-term capital gains tax (LTCG) and securities transaction tax (STT) were ongoing, giving investors a fresh talking point at a time when markets are looking for relief after weeks of pressure.
Speaking at the Bloomberg New Economy Forum, Sitharaman said Indian and global investors have been commenting on long-term capital gains tax. She added that in India, the issue is also linked to transaction tax in the securities market. She said the debate on transaction tax and whether different asset classes should be treated similarly has been well discussed.
