Finance Minister Nirmala Sitharaman has said the Government is open to hearing suggestions on the removal of long-term capital gains tax during consultations for the upcoming Union Budget. Ms Sithraman said this while speaking at the Bloomberg New Economy Forum in New Delhi today. The Finance Minister noted that investors, both in India and overseas, had been discussing the taxation of capital gains and different asset classes, including the securities transaction tax. She added that the government will continue to follow a disciplined fiscal approach while protecting spending on key areas such as welfare, education and healthcare.
On India’s semiconductor strategy, Ms Sitharaman said the country is pursuing opportunities in both advanced chips and semiconductors used in everyday products. She underlined that the rapid expansion of artificial intelligence and data centres will increase the need for electricity generation and reliable power infrastructure. Further, the Minister stressed the importance of developing sustainable green energy sources to meet the growing power requirements of data centres, semiconductor manufacturing and other AI-related infrastructure.
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