FPIs pull-out over ₹20,500 cr, even as govt adamant on super-rich surcharge
The carnage began since July 5, when the Budget proposed a levy of an additional surcharge on individuals and trusts earning more than ₹2 crore and ₹5 crore
Retail traders grouse that over ₹12 lakh crore in market cap has been eroded and that FPIs have over 50 countries to invest
Despite the flight of over ₹20,500 crore worth of foreign funds from the country's stock market, the government seems adamant to implement the taxation surcharge on the super-rich category which has spooked Foreign Portfolio Investors (FPIs).
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