February 6, 2018 / 6:07 AM / a year ago

CORRECTED-Indian govt will look into local market slump -finmin official

(Corrects to remove reference to long term capital gains tax in the third paragraph)

NEW DELHI, Feb 6 (Reuters) - Indian government will look into what it can do after a slump in local market reflecting global sell off, the finance secretary said on Tuesday.

Hasmukh Adhia said he will discuss the issue of fall in local markets with Finance Minister Arun Jaitley.

Adhia said the local markets are mimicking global weakness, “but the government will look into what it can do”.

Indian shares on Tuesday slid more than 3 percent and the rupee weakened as a global market rout whacked sentiment, adding to existing investor concerns ahead of a central bank meeting this week and a new capital gains tax later in the year.

Reporting by Manoj Kumar; Editing by Malini Menon

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