Investors see red as Budget offers little to celebrate. What went wrong?
India’s benchmark stock indices slumped about 3% intraday, as finance minister Nirmala Sitharaman’s decision to raise securities transaction tax (STT) on futures and options (F&O) trades spooked investors. Higher-than-expected government borrowings for the next financial year starting 1 April also worried investors, as the move could spike interest costs for businesses and make sovereign debt…
