By Nirmal Jain,
Founder & chairman of IIFL
“Expectations were very high and therefore market is a bit disappointed but there are a lot of incentives for the foreign investors. Dividend Distribution Tax (DDT) has been abolished and therefore obviously foreign investors will benefit but then it becomes fully taxable in the hands of shareholders which is not the right way of doing it because shareholders are also owners and as owners of the company they pay tax on profits and it gets taxed again. So, this might change the dividend culture of many companies, it will impact the private sector investment which has been very sluggish for the last 2 to 3 years at least."
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