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India's Business Growth at Three-month High in July, PMI Shows
Did the casino take a cut? Capital gains tax and securities transaction tax both increased, dealing a heavy blow to the Indian stock market!
After the Indian government's tax increase, the Indian stock market fell nearly 2% in the short term. Investors realized that this is short-term bearish but long-term bullish for the Indian capital markets.
The first step of "Modi 3.0": reducing the deficit target, comprehensive tax cuts, and a 2 trillion rupee economic stimulus plan.
The first budget of Modi's new government has been released, with the fiscal deficit target for this fiscal year lowered to 4.9% of GDP. The standard deduction for personal income tax has been increased from INR 0.05 million to INR 0.075 million. The tariffs on gold and silver have been reduced to 6%, and a 12.5% tax has been levied on long-term capital gains. The infrastructure budget remains unchanged. After the budget announcement, the Indian stock market and the rupee exchange rate fell, while bond prices rose.
India's Q&M Dental has gone crazy about stocks: the index has doubled in five years, and young people are rushing in frantically, treating the stock market as a casino and hoping for a sudden wealth overnight.
In recent years, the Indian stock market has set multiple historical highs, with the Nifty 50 index doubling within five years. The once deserted Indian market has been inundated with millions of retail investors and gamblers who are eager to get rich overnight.
India Growth Likely to Slow But Keep Outpacing Regional Peers -- Market Talk
India's Goods Exports, Imports Grow in June
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