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    India scrapping tax for foreign investors in govt bonds aimed at inclusion in Bloomberg index, govt official says

    Synopsis

    India has removed capital gains tax on foreign investments in government bonds. This move aims to help India join Bloomberg's Global Aggregate Index. Meanwhile, the fertiliser ministry is requesting more subsidy funds. This is due to rising global prices influenced by the U.S.-Israeli conflict with Iran.

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    Asian stocksIANS
    Representative image.
    NEW DELHI: ​The Indian ​government decision to scrap capital gains tax ‌on ⁠foreign ⁠portfolio investments ​in government securities is aimed ​at helping India's inclusion ​in Bloomberg's Global ⁠Aggregate Index, ‌a ​government ​official ⁠said on Tuesday.

    India's fertiliser ministry ​is seeking doubling ​of the budgeted subsidy amount as global prices ‌rise amid the U.S.-Israeli war ​with ​Iran, ⁠the official said.

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