The STT target will be achieved six months early
MUMBAI: The rise in retail participation in Indian stock markets has also led to higher STT recovery. As on September 15 of the current financial year, Rs 15,000 crore has been recovered through STT as against Rs 5,000 crore collected during the same period last financial year. The budget target of Rs 1,200 crore for the collection of Securities and Transactions Tax (STT) in the current financial year is set to be achieved very early, i.e. in September. Coro's recovery during the previous financial year, 2013-2014, was Rs 2,000 crore. Stock markets are booming and investors are more positive about the country's economy, so revenue from STTs has been higher than expected. The formation of the Bad Bank, the announced package for the telecom sector and the Product Linked Incentive (PLI) scheme for the auto sector have been welcomed by the market. The Centre's direct tax collection was reported to have exceeded 50 per cent of the budget estimate by September 15 of the curr...