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In
the budget for 2004-05, India's Finance Minister has
proposed the introduction of Securities Transaction
Tax (STT). While supporting the need to impose STT in
the Indian markets, this article examines the benefits
of STT in the light of international experiences with
similar taxes. It debunks several apprehensions expressed
by the opponents of the proposed tax. The article also
criticizes efforts to dilute provisions of the tax. |
