HIGHLIGHTS-India unveils budget aimed at boosting infrastructure and foreign investment

India on Friday unveiled a budget aimed at boosting infrastructure and foreign investment, the first since the Bharatiya Janata Party-led by Prime Minister Narendra Modi returned for a second term in power. Here are the highlights of Finance Minister Nirmala Sitharaman's budget for the 2019/20 fiscal year that began April 1: INVESTMENT

* India will ease foreign direct investment restrictions in single-brand retail * Proposes further opening up of FDI in aviation, insurance, media and animation sectors

* Important to get retail investors to invest in treasury bills * Will allow foreign investors to buy the debt of listed real estate investment trusts

* Government aiming for $14.5 bln targets for disinvestment proceeds in FY20 TAXATION

* Will levy tax deduction at source of 2% for cash withdrawals exceeding $146,000 per year * Proposes relief in securities transaction tax

BANKING * State-owned banks proposed to be provided $10.2 bln of additional capital

* Will strengthen central bank's authority overshadow banks * There is a need to give tax parity to non-banking finance companies

ECONOMY * India will become a $3trn economy in the current fiscal year, and a $5trn economy in the next few years

* India to invest heavily in infrastructure and job creation * Government will raise part of its gross borrowing in external markets in foreign currencies

* Fiscal deficit for 2019/2020 seen at 3.3% of GDP - Bloomberg INFRASTRUCTURE

* The government will upgrade 125,000 kilometres of roads over the next five years at a cost of $11.6 bln * Railway infrastructure will need an investment of $72bln between 2018 and 2030

* Govt to encourage global companies to set up large manufacturing plants * India will enter into aircraft financing and leasing activities