Live
- They always want me to win, and now I feel lucky to have been offered a story like ‘Zebra’: Satyadev Kancharana
- ‘Democracy first, humanity first’: PM Modi in Guyana's parliament on two countries' similarities
- PKL Season 11: Telugu Titans register third straight win to top standings
- Is Pollution Contributing to Your COPD?
- NASA Unveils Underwater Robots for Exploring Jupiter's Moons
- Additional Central forces arrive in violence-hit Manipur
- AR Rahman and Saira Banu’s Divorce: Legal Insights into Common Issues in Bollywood Marriages
- 82.7 pc work completed in HPCL Rajasthan Refinery area: official
- Curfew relaxation extended in 5 Manipur districts on Friday
- Tab scam prompts Bengal govt to adopt caution over fund disbursement
Taxation amid slowing economy killing market's animal spirit: Subbarao
Recently, the former Reserve Bank of India Governor D. Subbarao said the government's attempt to squeeze out RBI reserves is a sign that it is desperate.
New Delhi: Recently, the former Reserve Bank of India Governor D. Subbarao said the government's attempt to squeeze out RBI reserves is a sign that it is desperate.
This "desperation" could well be killing the animal spirit of the financial markets.
Of late the financial markets have borne the brunt of multiple taxes amid an acute slowdown, which has almost killed the investors' risk-taking appetite.
The controversial tax-surcharge on super-rich proposed in the Budget caused an outflow of Rs 12,419 crore in the month of July.
According to the NSDL data, this July outflow is one of the worst in the history of Indian financial markets.
There has been only four occasions -- all of which came around acute financial distress -- when the Foreign Portfolio Investors (FPIs) pulled out in excess Rs 12,419 crore.
Taxation on long-term capital gains (LTCG) proposed in 2018 Budget, was re-introduced after 14 years which caught the markets by surprise.
Besides, the securities transaction tax (STT) has already caused an increase in trading cost.
