News digest: Black Friday for D-Street, pet industry, Modicare, and more

The government's decision to reintroduce the long-term capital gains tax has spooked foreign portfolio investors

Black Friday for D-Street: Worst post-Budget market performance since 2009

Higher taxes on equity investments and declining risk appetite among global investors amid an increase in US bond yields saw the benchmark Sensex slide 840 points, or 2.3 per cent, to 35,907 and the Nifty 50 index tank 256 points to 10,760. This was the worst single-day fall since November 2016, when the Centre banned the use of high-denomination currency notes, and the worst after-budget day performance since 2009. Read More

Budget 2018: Modi govt uses Finance Bill to extract spending room till 2024

The Narendra Modi-led government is using