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Nirmala Sitharaman presser Highlights: FinMin rolls back enhanced surcharge on foreign investors

Finance Minister Nirmala Sitharaman held a press conference in Delhi on Friday. (PTI Photo)

Asserting that reform is on top of the Narendra Modi-led central government’s agenda, Finance Minister Nirmala Sitharaman Friday announced a slew of measures in an attempt to give a fillip to the economy.

Among the key measures that were announced include relief from the enhanced surcharge on Long term/Short term Capital Gains, CSR violations not to be treated as a criminal offence, and the withdrawal of Angel tax provisions for startups and their investors. Sitharaman also announced that the government has rolled back enhanced surcharge on foreign portfolio investors (FPIs), restoring pre-budget position. With an aim to end harassment of taxpayers, the Finance Minister also announced that all tax notices will be issued from a centralised system. She said banks will make home and auto loans cheaper.

On Thursday, Niti Aayog Vice Chairman Rajiv Kumar had said that since the government is faced with an "unprecedented issue", it needs to take up steps which are "out of the ordinary."