Measures by FM welcome, but more would be needed
Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction
The Centre on Friday announced a slew of measures to revive growth momentum, including rollback of enhanced super-rich tax on foreign and domestic equity investors imposed in the Budget
PSBs get Rs 70,000 crore; home, auto loans to become cheaper
Taxes had risen for foreign portfolio investors (FPIs) and others following surcharges introduced in the Budget
The Rs 70,000-crore recapitalisation announced in the Budget will be sped up
In a post-market hours press briefing today evening, Finance Minister Nirmala Sitharaman withdrew the enhanced surcharge on long and short-term capital gains
Finance Minister Nirmala Sitharaman's measures come after the government was criticised for failing to stem a rout in local equity markets and a slowdown in demand.
Sitharaman said surcharge on long and short term capital gains arising from transfer of equity shares has been withdrawn
Govt to infuse upfront Rs 70,000 crore into public sector banks to enable release of Rs 5 trillion liquidity in the market
Nirmala Sitharaman had proposed increasing the effective tax rate on individuals with taxable annual income of above Rs 2,000 cr by about 3%, and for those earning above Rs 5,000 cr by 7%
Sebi has done its bit; over to the govt
FPIs, however, invested a net Rs 2,096.38 crore in the debt securities during the period
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What has hit the sentiment the most is the higher tax surcharge on overseas investors, who have pulled out nearly Rs 15,000 crore from domestic equities since the Budget
The government is also looking for ways to ease concerns of foreign portfolio investors.
In an interview with Sundar Sethuraman, Bhat says that the government should take steps to address the risk aversion among banks and financial institutions
This was their highest outflow since October 2018, when they had pulled out Rs 28,921 crore ($3.93 billion) from the equity market
We need to see a concerted attempt to make India an easier place to do business
DII holding touches a record Rs 20.42 trillion, an increase of 0.9 per cent over the previous quarter.