New Delhi: In a bid to boost the economy, capital markets and consumption, Finance Minister Nirmala Sitharaman on Friday announced a slew of measures including the rollback of a controversial tax surcharge on foreign portfolio investors (FPIs) and equities of domestic investors announced in the Budget last month.

Amid economic slowdown fears, she addressed a press conference in which she announced the withdrawal of 'angel' tax provision for start-ups and their investors. The impact of rollback of enhanced tax surcharge will be about Rs 1,400 crore. "The surcharge levied by on long and short term capital gains tax is being withdrawn," Sitharaman said. "More moves to stimulate the economy will be announced by the middle of next week. To address concerns of homebuyers, measures will be announced soon and another package will follow shortly," she added.