The complete recording of the press conference by Finance Minister Nirmala Sitharaman:
FM Nirmala Sitharaman press conference highlights: Will review surcharge on HNIs after 75th Independence Day
Track this space for all live updates on Finance Minister Nirmala Sitharaman's press conference. The briefing is likely to discuss the state of the economy.
Finance Minister Nirmala Sitharaman will be addressing a press conference on August 23 at 5 pm in New Delhi. The briefing is likely to discuss the state of the economy.
Foremost among the things that the Finance Minister could address is the issue of surcharge on foreign portfolio investors (FPIs). In her maiden Budget proposal, the Finance Minister had proposed to impose a higher tax surcharge on the super-rich.
Following the announcement, there were concerns raised that FPIs also would have to pay higher tax and the Finance Minister refused to give any relief to FPIs.In July, the Indian equity markets bled as FPIs turned net sellers, withdrawing Rs 12,419 crore from the market. The FPIs have been demanding a review of the announcement. Sitharaman then held consultations earlier this month with stakeholders to hear their grievances.