STT was introduced by finmin P. Chidambaram in 2004, literally in lieu of Long Term Capital Gains tax
Since current GoI has re-introduced LTGC but not done away with STT, maybe FinMin can subsidise UPI MDR using a fraction of 50,000 crore + it collects from an unfair STT :)
@nakulvibhor Judiciary corrupt, police corrupt, public departments corrupt, public servants corrupt, doctors corrupt......but IPO allotment is fair???? Is it possible???