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

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.
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