New Delhi, May 29 -- After urging the Indian government and Finance Minister Nirmala Sitharaman to abolish long-term capital gains (LTCG) tax and dividend tax, veteran investor Vijay Kedia believes another reform could further accelerate this growth story: abolishing the Securities Transaction Tax (STT).

In the third and final part of his suggestions to Finance Minister Nirmala Sitharaman and the Ministry of Finance for strengthening India's capital markets, Kedia has called for a review of the continued relevance of STT, arguing that the levy has outlived its original purpose and now acts as an additional burden on investors.

STT was originally introduced as a simplified transaction tax aimed at making tax collection from capital marke...