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    <title>Govt issues Ordinance to exempt foreign investments in G-secs from capital gains tax</title>
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    <description>Tax exemptions were introduced on interest income and capital gains arising from the sale, exchange or transfer of government securities, extended to foreign institutional investors and the Bank for International Settlements, subject to prescribed information-reporting requirements. The amendment to the Income Tax Act was stated to take effect from 1 April through an ordinance under the President&#039;s ordinance-making power. The Reserve Bank of India also widened foreign participation in government and equity markets through additional access and relaxation measures.</description>
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