In a major setback to commodity exchanges, finance minister Chidambarm today proposed a transaction tax of 0.01 percent on non-agri futures traded on the bourses.
So as to encourage investment in the stock market, Finance Minister P Chidambaram today cut the securities transaction tax on equities and mutual fund units.
An elite panel of experts assembled to discuss the roadmap for Commodity Futures in India. They opined that the bill to amend the Forward Contracts Regulation Act (FCRA) is pending in the parliament, and if passed, will strengthen the Forward Markets Commission (FMC), the main regulatory body.
According to experts, investors should subscribe to the MCX IPO because of the growth potential of the company and the valuations it has.