 "Nirmala Sitharaman")
India plans some tax exemptions in its budget due February, possibly the final step for the nation’s sovereign bonds to be included in global indexes, according to people familiar with the matter.
Finance Minister Nirmala Sitharaman will propose to exempt Euroclear settlements from tax, the people said, asking not to be identified as the plans are private. If lawmakers approve the budget on schedule, Indian debt could be eligible for index inclusion by the end of March, they added.
A finance ministry spokesman wasn’t immediately available for comment.
The tweak is crucial for inclusion of Indian bonds as Euroclear doesn’t charge capital gains
