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Budget 2018
Feb 01, 2018 11:05 AM IST | Source: CNBC-TV18

Budget 2018: Imposing LTCG tax now would hurt market sentiment, says Raychaudhuri

Manishi Raychaudhuri, BNP Paribas said imposition of long-term capital gain tax would depress sentiment of market participants both domestic and foreign.

CNBC TV18 @moneycontrolcom

Manishi Raychaudhuri, BNP Paribas said imposition of long-term capital gain tax would depress sentiment on the Indian market because none of the other large markets have LTCG tax.

If the tax is only for domestic investors and not FIIs even then since the recent fund flows suggest that they have come from domestic investors more, that would also not be welcome at this time. It is unlikely that the government would like to puncture the sentiment in the equity market at this point, he says.

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