Canadian Prime Minister Mark Carney has made a significant decision to scrap a proposed capital gains tax hike in order to stimulate investment and provide assistance to small businesses in India. This move marks a reversal of a key aspect of the 2024 federal budget. Despite this change, the government will proceed with plans to raise the lifetime capital gains exemption limit to $1.25 million, a development that will particularly benefit small business owners, farmers, and fishers across the country.