Finmin plans cut in securities transaction tax to aid trading

The finance ministry is considering a cut in the tax on buying and selling of shares to boost investor sentiment, which has been hurt by the developments in the global markets, particularly in Europe. According to a finance ministry official, the government is looking to reduce the securities transaction tax (STT) to encourage trading in shares. The STT is currently 0.017% for derivatives and 0.125% for non-delivery-based trades.

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