India scrapping tax for foreign investors in govt bonds aimed at inclusion in Bloomberg index, govt official says

NEW DELHI: The Indian government’s decision to scrap capital gains tax on foreign portfolio investments in government securities is aimed at helping India’s inclusion in Bloomberg’s Global Aggregate Index, a government official said on Tuesday. India’s fertilizer ministry is trying to double the budgeted subsidy amount as global prices have risen amid the US-Israeli war with Iran, the official said.