There are no mistakes in life, only lessons.
When you adopt a positive mind-set, you never lose.
You either win or you learn.
Good judgment comes from experience, and experience comes from bad judgment.
- The Joys of Compounding by @Gautam__Baid
Cashless health insurance is legally sanctioned house arrest.
The doctor officially discharges you at 9 AM. You are fully recovered, your bags are packed and your family is ready to take you home.
Then the hospital administration steps in: "Sir, the insurance TPA approval is pending. Please remain seated in your room until we receive the final payment."
You then spend the next 8 to 12 hours held hostage in a ₹15,000-a-day hospital room.
You are no longer a patient but you are collateral. The hospital doesn't trust the insurance company to actually pay, the insurer is deliberately stalling to find a typo in your medical history to reject the claim and you are stuck in the middle of a corporate standoff.
We live in a country where UPI settles transactions in 300 milliseconds and automated trading algorithms move crores in a microsecond.
The system is designed to exhaust you. They want you so frustrated and desperate to go home that the next time you get sick, you just pay the cash upfront and file for a reimbursement which they will conveniently reject 45 days later citing "insufficient documentation."
If my policy is active and the hospital is in-network, the final discharge should be an instant and automated API settlement. Man I paid insurance company for this service.
Until we force insurers to adopt automated clearing, stop calling it a cashless facility.
Call it what it actually is: an extortion racket with a waiting room.
In 2004, LTCG on equities was abolished and STT was introduced as the swap. Tax the transaction, free the holding period. In 2018 LTCG returned at 10%. In 2024 it was hiked to 12.5%. STT stayed both times.
By the time LTCG is levied on a long-term shareholder, the Exchequer has already collected:
Corporate tax of around 25% on the company's profits every year of the holding period.
STT on the purchase leg and the sale leg.
Stamp duty on every purchase.
18% GST on brokerage and exchange charges.
Dividends taxed at slab rates in the investor's hands, up to 39% for HNIs.
Only then comes LTCG at 12.5%, plus surcharge and cess. Equity LTCG also never had indexation. The investor pays tax on inflation too.
The result is visible in household behaviour. In FY25, with markets near record highs, Indian households were net sellers of direct equity by Rs 55000 crore. Gold imports touched USD 72 billion in FY26.
Only Rs 2 of every Rs 100 of household savings now goes into direct equity. 45% sits in gold.
Singapore, Hong Kong, UAE, Switzerland, New Zealand. Zero LTCG on listed equities. Not tax havens. Competitive capital regimes.
Abolishing LTCG on listed equities (with STT retained as the original swap) would do for Indian capital markets what the 2019 corporate tax cut did for manufacturing intent.
Respected @nsitharaman ji and @FinMinIndia ,
Suggestion 1 of 3 for strengthening India's capital markets:
Long-term capital gains tax on listed equities should be abolished.
A long-term shareholder is not a speculator but a provider of patient risk capital. By investing in and holding businesses, investors help companies expand, create jobs, innovate and contribute to India's economic growth.
India requires enormous amounts of long-term capital to build world class enterprises, infrastructure and global champions. Tax policy should encourage households to move savings from passive assets, including imported stores of value such as gold, into productive businesses that create jobs, generate tax revenues and build national wealth.
The appreciation in a company's value is not created in isolation. During its growth journey, the government already collects corporate tax, GST, income tax from employees, customs duties, stamp duties and numerous other levies. Long-term capital gains are often the final outcome of economic activity that has already generated substantial tax revenues.
Most importantly, tax policy should clearly distinguish between investment and speculation. A long term shareholder is a partner in wealth creation, not merely a participant in market transactions. Tax policy should reward long-term ownership of productive businesses and distinguish it from short-term speculation.
India needs more patient capital, more entrepreneurship and more long term investing. Abolishing long-term capital gains tax on listed equities would be a powerful step in that direction.
Respectfully submitted.
🙏 Missing 🙏
Name: Munmun | Age: 13 years
Missing from Krishi Kunj, Indrapuri, New Delhi
If you see her anywhere or have any information, please call immediately:
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