In the latest episode of Mint Insight, Mint's Associate Editor Shrija Agrawal discusses the implications of surcharge on FPI's with Siddharth Shah, partner at Law firm, Khaitan and Co. Shah said that the tax surcharge on foreign portfolio investors (FPIs) is sending a wrong signal to a very important class of investors. Incidence of higher tax is secondary, but the move may have a negative impact on the perception of foreign investors that India has a stable regulatory and tax regime – a crucial precursor for attracting more foreign capital. It seems that the net economic implications of this decision have not been calculated – higher tax inflows vs higher capital outflows.
Headlines @ Mint gives you a quick brief on the biggest events and developments expected to make news this Wednesday, including a close look at how the markets will respond in the wake of the earning announcements, relief for tax payers, Suzuki’s restructuring plan in Gujarat plant, IMF cuts India’s growth forecast, SC ruling on the Amrapli case. Also on the menu are the latest from the Karnataka political potboiler, Robert Mueller to testify in the US Congress, Boris Johnson to be next British Prime Minister and a lot more. Watch the full video to tune into your daily dose of news shorts and more.
Given falling interest rates, it’s a good time for the government to borrow more from markets
CDRI could be the next major foreign policy innovation in the Modi Doctrine
