A higher surcharge on wealthy Indians in the Budget has alarmed overseas investors since it also applies to trusts – a choice for several foreign funds that invest in India.
Monday afternoon trade was dragged by losses in index heavyweights HDFC Bank, L&T and Bajaj Finance. Traders also indicated that several Budget proposals was weighing on investor sentiment.
The last time this matter flared up was when Delhi Chief Minister Rekha Gupta, in a very similar directive in April, called for the relocation of stray dogs in the capital.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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