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Topic: super-rich tax
Rollback of tax on FPIs & surcharge on capital gains tax only undo wrong done in this year’s budget, not those in decades earlier.
Finance Minister Nirmala Sitharaman also announced the withdrawal of angel tax provisions citing difficulties faced by start-ups and their investors.
The proposal to tax the super rich, along with the Budget's lack of measures to boost the economy, led to foreigners withdrawing more than $3 billion from Indian shares.