Finance Minister Arun Jaitley in budget 2018 introduced long term capital gains (LTCG) tax on equities. This evoked a variety of response from the markets. Some even linked the last week\u2019s sharp plunge in the Sensex and Nifty to the fears evoked from the introduction of LTCG on equities. However, JP Morgan doesn\u2019t read much into this. \u201cLTCG tax wasn\u2019t a surprise as government had indicated earlier of introducing it. It\u2019s difficult to assess if LTCG tax is good or bad for equities,\u201d Adrian Mowat of JP Morgan told ET Now. It\u2019s difficult to assess if LTCG tax is good or bad for equities, financial services company said. JP Morgan sees emerging market equities being driven by S&P 500 than its own fundamentals moving ahead. Particularly talking about the reintroduction of long term capital gains (LTCG) tax on equities this budget, various market experts believe that this step may dampen some froth. However, if the real economy remains strong fundamentally and liquidity remains intact, LTCG may also add a little extra revenue for the government. The experts believe that despite LTCG, the participation of individual investors into the equity market via mutual fund may not be ending anytime soon. The reason experts give is that there are no other lucrative avenues in terms of investment. In addition, the Indian economy is doing well and it is showing since lot of momentum is coming from positivity in the global market and we don\u2019t expect that to be fading soon, experts say. Talking about the tax situation of the country, JP Morgan said that \u00a0India\u2019s tax situation has remained poor relative to other emerging markets. January was extraordinarily good month for equities, JP Morgan added.