Samir Arora calls for Capital Gains tax cut to stem FII outflows

PMS fund manager Samir Arora suggests the Indian government reduce capital gains tax to 10% to reverse consistent foreign institutional investor (FII) selling and stimulate a market rally. Arora believes this move would prove FIIs wrong and boost market sentiment. FIIs have been net sellers in Indian equities, with total sales reaching Rs 66,602 crore by January 24.