Government will look into local market slump, says finance secretary Hasmukh Adhia

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New Delhi | Published: February 6, 2018 11:52:48 AM

Indian government will look into what it can do after a slump in local market reflecting global sell-off, the finance secretary said on Tuesday.

Sensex, Nifty, global sell off, hasmukh adhia, arun jaitley, fed reserve, jannet yellen, best stocks to buyHasmukh Adhia said he will discuss the issue of fall in local markets with Finance Minister Arun Jaitley. (Express photo)

Indian government will look into what it can do after a slump in local market reflecting global sell-off, the finance secretary said on Tuesday. Hasmukh Adhia said he will discuss the issue of fall in local markets with Finance Minister Arun Jaitley. When asked if the government will scrap or review the long-term capital gains tax which was introduced last week in the federal budget, Adhia said the local markets are mimicking global weakness, “but the government will look into what it can do”.

Indian shares on Tuesday slid more than 3 percent and the rupee weakened as a global market rout whacked sentiment, adding to existing investor concerns ahead of a central bank meeting this week and a new capital gains tax later in the year.

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