Who Gains or Loses in India Infrastructure Push, Derivatives Tax

India announced measures to invest nearly $133 billion to turbocharge its infrastructure overhaul and boost manufacturing for sectors from textiles to electronic components in its federal budget. It also raised taxes on equity futures to curb speculative trading.

The nearly 90-minute long speech by India’s Finance Minister Nirmala Sitharaman on Sunday seeks to protect the economy at a time of global uncertainty and continuing 50% US tariffs while the trade deal with the country remains elusive. India’s small businesses were also given a 100-billion-rupees growth fund as well as 20-billion-rupees top up on a 2021 self-reliant fund.

“We face an ...