Removing this small bump will help improve the investor sentiment and drive flows into the capital markets.The super rich tax spooked sentiment last year. Paying a 37 percent surcharge on a 30 percent tax defies logic and the additional revenues to the government have been relatively small.Considering that the super rich are also the people who provide maximum employment in the private sector, taxing them unreasonably is counterproductive. We hope that the government reconsiders the surcharge and brings it down.To compensate for the loss in tax revenues from the above measures, the government may look at large scale disinvestments of PSUs.The Budget should also have measures to boost credit growth.
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