Finance Minister Nirmala Sitharaman’s response to a complaint from a Mumbai broker about the excessive taxation on financial transactions prompted laughter from the audience. The broker compared the government to a “sleeping partner” benefiting from the taxes paid by brokers and investors at every step.

The Union Finance Minister attended an event in Mumbai organised by the Bombay Stock Exchange – ‘Viksit Bharat 2047 – Vision for Indian Financial Markets’. She took questions from the audience where the broker highlighted that while investors risk their capital, the government gains through a “heavy tax burden”. He pointed out that various taxes such as GST, IGST, stamp duty, Securities Transaction Tax (STT), and long-term capital gains tax cumulatively surpass the earnings of brokers.

“Today, the government of India is earning more than the broker,” the broker claimed. He emphasized the disparity, noting that while investors and brokers often take substantial financial risks, the government does not share in these risks but reaps the benefits.

“I am taking a whole lot of risk, and the government of India is taking away all of the profit. You are my sleeping partner, and I am the working partner,” he said. This analogy prompted Finance Minister Sitharaman to smile and she responded by saying, “A sleeping partner cannot answer sitting here,” which amused the audience.

FM Nirmala Sitharaman’s witty reply to BSE broker – WATCH

The video took rounds on social media appreciating her wittiness.

During the event, Ms. Sitharaman also emphasized the significant achievements of the Narendra Modi government in infrastructure development over the past decade. She highlighted that under the Pradhan Mantri Gram Sadak Yojana, 374,000 kilometers of rural roads have been constructed since 2014, almost doubling the previous total.

The Finance Minister also highlighted the substantial improvements in urban living standards due to metro rail projects. These projects have enhanced connectivity, reduced traffic congestion, and provided safer travel options, thereby improving the overall quality of life in urban areas.