ADVERTISEMENT
Government Withdraws Enhanced Surcharge On Foreign Investors: 10 Things To Know
Nirmala Sitharaman withdraws higher taxes on foreign portfolio investors Rollback of big ticket budget announcements aimed at revival of economy Restrictions removed on government departments from replacing vehicles
23 Aug 2019, 10:31 PM IST 
Finance Minister Nirmala Sitharaman said banks have agreed to launch more repo rate-linked loans
The government has decided to withdraw the surcharge on Foreign Portfolio Investors (FPIs). The higher tax applied to individuals and FPIs earning more than Rs 2 crore annually, which led to a sharp fall in equity markets.
Foreign Portfolio Investors have pulled out Rs 12,105.30 crore from Indian capital markets so far this month. That is on top of the net Rs 12,418.73 crore they withdrew last month.
The government will also with...
