29.02.2016 - India: What commodity markets want from FM
The Indian markets are gearing up for the big event today — the Union Budget. We take a look at what the commodity market participants expect from it. If there is one wish that tops the list for almost all participants in the commodity sector, it is the removal of the commodity transaction tax (CTT) that was introduced in July 2013. This tax is levied on the sale transaction of the commodity futures except for exempted agricultural commodities such as chana, soyabean, turmeric, etc. The introduction of this tax has taken trading volumes sharply lower in both the Multi Commodity Exchange (MCX) and the National Commodity and Derivatives Exchange (NCDEX)...............................................Full Article: Source
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