Concerned over volatility in the stock market, CPI (M) on Friday demanded re-introduction of long-term capital gains tax and review of the Double Taxation Avoidance Agreement with Mauritius.
It also warned the UPA government, which it supports from outside, against going ahead with capital account convertibility as it would "further imperil the stability of our financial system".
Why did the stock market crash?
CPI (M) polit bureau member Sitaram Yechury said steps were also required to protect small investors in the stock market as they suffered the most from market meltdowns.
He said CPI(M) has "serious reservations" against the decision to join the US-backed Turkmenistan-Afghanistan-Pakistan gas pipeline project, saying it was not in India's interest. Besides, it would put the Iran-Pakistan-India gas pipeline project in the cold storage, he said.
