Asked someone from the industry whether foreign investors are still interested in allocating to India. The TLDR:
Interest has pretty much died out. India is seen as geopolitically exposed, especially to an oil shock. There are no real AI plays. Valuations are rich. And the rupee situation doesn't help.
On top of that, investors who were sitting on gains have taken money off the table and are now looking at markets like Japan, Taiwan, Korea, Europe etc instead.
He also pointed out that our LTCG/STCG structure and the increase in STT have made India less attractive compared to other markets that are seeing inflows.
If we need to attract FPIs back, and we do, fixing this feels like pretty low-hanging fruit.
In Parliament today I proposed optional Joint filing of Income Tax Returns for married couples.
Family A
Both spouses earn ₹10 lakh each.
Total household income is ₹20 lakh.
Tax: zero
Family B
One spouse earns ₹20 lakh. The other stays home to raise their child.
Total household income is ₹20 lakh.
Tax: ₹1.92 lakh
The only difference is how the salary is split between the two spouses.
One roof. One kitchen. One household budget. But when tax time comes, the family disappears.
The tax system sees two individuals. A husband and wife become strangers. No clubbing of income or rebates.
In Parliament today I proposed optional joint filing of Income Tax Returns for married couples, so families with uneven incomes are not unfairly penalised. If implemented, then Family A and Family B both will pay Zero Tax.
@iRadhikaGupta Madam, I liked your Limitless book more than Mango Millionaire, it has more practical examples I can relate to as a budding leader. Please write Limitless Part-2 for your readers
@WeekendInvestng I am happy to see my friends kicked out sir, they insult us when they leave India and mock us for living here , good that they are attacked and insulted