Global and non-resident investors make investments in India via so-called association of persons (AOP) and non-corporate trusts.

FPIs get covered by higher tax rate as they have been investing as a non-corporate entity such as trust or association of persons.

Additional income tax deduction of Rs 1.5 lakh on home loans for houses under Rs 45 lakh announced in Budget 2019.

Railways will need Rs 50 lakh crore between 2018 to 2030 to complete the sanctioned projects, Sitharaman said.

In Budget presented on Friday, government lowered the fiscal deficit target to 3.3 pc of the GDP for 2019-20.

Following increase in surcharge, effective income tax rate for individuals with income of Rs 2-5 crore will go up to 39 pc.

Analysts said that now that the much-awaited Budget is over, focus will shift to first quarter earnings starting mid-July.

India's economic growth slowed to a five-year low of 5.8 per cent in the January-March quarter.

FICCI felt there was little done to address the economic slowdown while health and education did not get the required filip.

Finance Minister Nirmala Sitharaman in the Budget for 2019-20 proposed easing KYC norms for foreign portfolio investors.