eBooks - History - World - ASED + Kavaljit Singh - Tax Financial Speculation
Tax Financial Speculation eBook
by ASED + Kavaljit Singh
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Tax Financial Speculation Summary
| Indian financial markets are among the most speculative and volatile in the world. To curb unproductive speculation and excessive volatility, the author proposes a Securities Transaction Tax (STT) of 0.25 per cent. The author argues that the wider economic and developmental gains of taxing speculative money in stock markets are more than the private gains of a handful of speculators, financiers and traders. If gambling in a casino or a state lottery ticket is considered an unethical act and therefore heavily taxed, why not impose a modest tax on speculation in Indian markets, asks the author. The paper provides legitimate grounds for imposing a STT on Indian financial markets. It underscores the point that the obstacles to put restrictions on speculative trading are not technical, but political. If several countries including the US, UK and Japan could impose taxes on securities transactions over time, what prevents India from imposing such taxes? The author calls upon policy makers and regulatory authorities to closely examine the proposal of a STT. |
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eBooks - Titles - Authors - History - World - ASED + Kavaljit Singh - Tax Financial Speculation