Stock markets Budget 2020

In the interim budget announced in February 2019, stock markets were upbeat as they were expecting the fiscal deficit to be around 3.6 percent but Piyush Goyal, the then Railways Minister, who presented the budget announced that it would remain at 3.4 percent. Former Finance Minister Arun Jaitley re-introduced LTCG tax on stocks, under which, investors pay 10.4 percent tax on profit exceeding Rs 1 lakh made from the sale of shares or equity mutual fund schemes held for over one year. LTCG is the tax paid on profit generated by an asset such as real estate, shares or share-oriented products held for a particular time-frame. Earlier, LTCG tax on stocks was scrapped by then finance minister P Chidambaram in in 2004-05.

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