Streamlining Tax Policies: Pre-Budget Talks to Boost Capital Markets
Financial sector players requested streamlining of capital gains tax and reduction of Securities Transaction Tax in the FY25 Budget. In a pre-budget meeting, they suggested fixing tax arbitrage and making tax policies stable and long-term. The full FY25 Budget is expected next month.
- Country:
- India
In a significant pre-budget dialogue on Thursday, financial sector players pushed for streamlining of capital gains tax and reduction in Securities Transaction Tax. These moves are expected to invigorate the capital markets, they said.
During the discussion with Finance Minister Nirmala Sitharaman, representatives from the financial and capital markets sector emphasized the need for stable and long-term tax policies to foster market stability. This was the second Pre-Budget Consultation ahead of the General Budget 2024-25, the finance ministry revealed in a post on X.
Leading experts, including Arun Kohli of Morgan Stanley India and George Alexander Muthoot of Muthoot Group, underscored the necessity for tax policy adjustments. Suggestions to deepen the market and provide tax incentives were also discussed. The full Budget for FY25 is anticipated to be presented in Parliament next month.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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