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Below is the Views On Government's possible move to rollback FPI surcharge by Ajay Bodke Prabhudas Lilladher
"Such a move will be strongly welcomed by the markets reeling under unprecedented selling avalanche from the FPIs after the Union Budget due to a host of domestic & international headwinds. Refusal to roll back the surcharge on FPIs & absence of a fiscal stimulus to beleaguered sectors like autos & NBFCs are the principal reasons for the plunge in Indian equities. Any move to offer a generous relief on both these counts can lead to a massive short covering by speculators and a strong rally due to buying from FPIs and domestic Institutional investors"
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