Nikhil Kamath on recently posted a photo in reaction to the Union Budget 2024, but it was his physical appearance that quickly drew attention. The image, which shows Kamath in a grey sleeveless T-shirt with a somewhat puzzled look, was captioned simply as «Budget day.» While the photograph was meant to capture his response to the budget, many viewers focused on his biceps rather than the financial implications.
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Finance Minister Nirmala Sitharaman in Budget 2024 announced proposals to raise the capital gains exemption limit for certain financial assets to Rs 1.25 lakh annually for the middle and upper-middle classes. Additionally, Sitharaman revealed a hike in the Securities Transaction Tax (STT) on futures and options securities by 0.02 percent and 0.1 percent, respectively.
The public's reaction to Kamath’s post was mixed. Some users joked about his «subtle way of flexing biceps» and commented on the casual nature of his pose. Others expressed surprise at the seemingly disinterested look on his face, with remarks ranging from humor about his billions to concerns about potential increases in transaction costs. There were also comments likening the photo to a visual representation of the capital gains tax reforms.