1992 Crisis β Liberalisation
2004 Bull Phase β 0% LTCG on equities
2026 could force the next big shift.War fears are triggering a gold rush β surging imports β Rupee pressure + worsening current account.
India canβt afford billions in βdead capitalβ locked in imported gold.The simplest policy lever? Make equities attractive again.
Thatβs why LTCG reduction or removal is no longer off the table.