Mini Budget: FPI surcharge rolled back; no angel tax for start-ups

PSBs get Rs 70,000 crore; home, auto loans to become cheaper

Facing an economic slowdown and depressed capital markets, Finance Minister (FM) Nirmala Sitharaman on Friday announced a slew of measures, including a rollback of the surcharge on foreign and domestic portfolio investors, to perk up consumer demand and investments. 

Apart from stating measures, almost rivalling a Budget, Sitharaman also said there would be two more sets of announcements in the coming few weeks — one aimed squarely at homebuyers and real estate companies. At a much-awaited press conference, Sitharaman announced steps such as enhancing the liquidity of banks to shore up purchases by consumers, easy goods and service tax (GST) refunds