The Securities and Exchange Board of India (SEBI) has recommended removing the 12.5% long-term capital gains tax for foreign portfolio investors to curb massive outflows of $31 billion from Indian equities. The move aims to boost lagging market performance. SEBI also proposed tax exemptions for domestic mutual fund investors switching between schemes.
India's extreme poverty rate has declined by 2.6% to 2.6% in 2023, according to the World Bank, with an estimated 49.6 crore people lifted out of poverty. However, wage disparity remains high, with the top 10% earning 13 times more than the bottom 10%. The poverty rate is projected to continue declining, albeit gradually, to 12.1% by 2028.
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