We bite the bullet on difficult decisions: FM Jaitley on LTCG tax

The FM's reply to a general debate on the Budget for 2018-19 saw heated exchanges between the treasury benches and the Opposition, particularly the Congress

Finance Minister Arun Jaitley on Thursday strongly defended the imposition of the long-term capital gains (LTCG) tax on listed stocks, saying the Budget proposal was to tax the wealthiest sections of society. He also said that the Budget, in these challenging times, provided Rs 120 billion relief to the middle class, including pensioners and senior citizens.
 
Wondering at the analysis over the tax spooking the market, he said the market movement was due to global cues. “Was the tax also responsible for a fall in Dow Jones?” he asked.
 
The FM’s reply to a general debate on the