May 30: Finance Minister Dr. Prakash Sharan Mahat attributed panic in the share market to a lack of understanding regarding the tax polices outlined in the budget for fiscal year 2023/2024.
During a press conference held on May 30 to provide insights into the budget for fiscal year 2023/2024, Minister Mahat said that the government is positive towards the share market.
Mahat clarified that the government has no intention of undermining the share market, expressing concern over the sharp decline triggered by investors' inability to comprehend the nuances of the budget speech.
Minister Mahat acknowledged that the stock market had experienced panic due to a failure to grasp the provisions outlined in the budget.
In an effort to assuage concerns, Mahat assured that the government would make diligent efforts to ensure investors fully understand the facts and implications of the tax policies.