Transaction taxes on stocks and non-agro commodity trading are unlikely to be lowered in the Budget. If it happens, this will disappoint both the stock market and the commodity market. The stock market and its regulator SEBI wants Securities Transaction Tax to be lowered, while the commodity futures market and its regulator FMC appealed for complete removal or lowering of Commodity Transaction Tax.
However, considering the revenue constraints, Finance Minister Arun Jaitley may not oblige the exchanges. In the interim Budget, collection through STT in 2014-15 was estimated at ₹5,992 crore against collection of little over ₹5,000 crore in 2013-14.
There is no estimate available for Commodity Transaction Tax separately, which was introduced on non-agri commodities last July.