Indian shares reverse big gains to close sharply lower (-1.2%) after the finmin proposes a...

|By:, SA News Editor

Indian shares reverse big gains to close sharply lower (-1.2%) after the finmin proposes a budget with a raft of tax hikes, but no real reform. Hoping for a big reduction or even scrapping of an equity transactions tax, investors got just a nominal cut. Budget-busting subsidies for fertilizer, food, and oil remain. EPI +29.6% YTD.