End long-term capital gains tax on listed equities: Kedia to govt

Veteran investor Vijay Kedia asked government to abolish long-term capital gains tax on listed equities to boost India's capital markets. "A long-term shareholder isn't a speculator but…provider of patient risk capital," Kedia said. "Tax policy should clearly distinguish between investment and speculation. India needs more patient capital…entrepreneurship and...long-term investing," he added.