Scrapping ‘outdated and anomalous’ tax will trigger lower borrowing costs, ensure stronger rupee and healthier forex position, and boost economic growth because of lower capital cost.
Long-term capital gains on equity are taxed at 12.5 % and short-term at 15 % provided the transactions are done through stock exchanges on which securities transaction taxes are paid.
Throughout the election campaign, Rahul Gandhi portrayed Modi as a patron of the oligarchs. The Prime Minister did not work too hard to dispel this unflattering caricature.
The govt should have attempted to bring uniformity in taxation before withdrawing tax benefits on long-term capital gains on debt instruments, or at least debated it in Parliament.
In a seminal work, former military officers Lt. Gen. D.S. Hooda & Lt. Col. Pavithran Rajan put forth a framework to approach cognitive warfare, called Socio-Technical-Cognitive Battlespace.
India, China and Russia share more contradictions than congruence. Each has a different worldview, as also a different adversary. The rude fact is that BRICS is the most irrelevant of all such groupings.
COMMENTS