Market posed huge losses washing out retail investors money in 2016 due to surgical strikes. My portfolio went down by 1 lakh. I didnt care and felt proud that our Indian army took a bold decision in Modi leadership in favour of our country security for first time ever. In fact, invested 2 more lakhs during that downfall believing that its a short term pain and took it light.
In 2017 Modi government gave 2 more shocks to Equity market and retail investors in for the form of Demonetization and GST. Still i continued investing in market believing in BJP.
Now in 2018, Modi and Co gave a big big jolt to retail investors wiping out 4.5 Lakh crores in single day for few thousand crores expected in the form of LTCG.
When govt is collecting STT, retail investors are paying brokerage, cess and had to absorb losses as there is not at all any guaranteed return in equities , why there shd be another tax on return. If at all they want to bring in LTCG, Govt should have defined a time frame and leave any returns made after 2 years.
In that way, they make 15% on STT and 10% for 2 years. This is very foolish way that Bas*** d JAITELY selected for revenues instead of divesting stake in sick PSUs.
Some intelligent raised a question in this forum that "how many of pay STCG on returns made in IPO?". By this time, he should have understood very well by today ''s 7th steepest correction in market history that its not matter of 10% LTCG but FIIs would avoid India and go to other EMs as most of the other Emerging markets have no LTCG. And retail investors also avoid equities and invest in real estate or Gold but not in share market. Then, when will our existing shares get break even price ? ( buy price+ brokerage+ STT+ all other charges)
This is a death blow to retail investors that it takes years to recover our money invested and trapped in secondary market. Again next year, there will be uncertainity due to elections. so, we cant recover till post next elections.
Hit like if you agree. comments which makes any sense are most welcome.
Boycott NTPC Green Energy IPO