Budget 2018: Why are markets selling off in India? All you need to know

We are in for a correction; investors can use this pause to upgrade their portfolio

The Indian markets faced a significant sell-off on Friday, with the Nifty down 2 per cent and the mid-cap and small-cap indices dropping by more than 3.5 per cent. The mid- and small-cap indices are now already down almost 10 per cent for the year. With the overnight decline in global markets, there was continued selling on Monday as well. Why are markets selling off in India? Is it the Budget, global issues, or something else altogether?

As for the Budget, there is the issue of the long-term capital gains tax. Frankly, I do not think this 10 per cent tax