Vipin Upadhyay Highlights Importance of Tax Certainty for FPIs Ahead of Union Budget 2026 in Business Today Feature
Vipin Upadhyay shared his views on the key factors likely to influence foreign portfolio investor (FPI) sentiment in a recent article published by Business Today, in the context of the Union Budget 2026.
Commenting on recent FPI outflows, Vipin noted that investors will be closely watching for clarity on the treatment of capital gains, withholding tax, and the scope of the General Anti-Avoidance Rules (GAAR). He emphasised that uncertainty arising from recent enforcement actions has revived concerns around retrospective interpretation and tax ambiguity, which continue to weigh on investor confidence.
Vipin observed that clear and predictable tax policy signals in the Budget could play a crucial role in restoring trust, improving India’s investment climate, and encouraging sustained foreign portfolio investment flows.
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