Budget 2024: F&O clampdown begins as Nirmala Sitharaman raises STT

In an effort to deter retail traders from speculating household savings in derivatives, termed as "gambling" in the Economic Survey, the Finance Minister announced an increase in securities transaction tax (STT) for the futures and options (F&O) segment during the Budget presentation on Tuesday. The revised STT rates now stand at 0.02% for futures and 0.1% for options.