India's markets regulator, SEBI, has recommended the removal of the long-term capital gains (LTCG) tax for foreign investors to boost the country's equity markets. This proposal aims to alleviate the tax burden on foreign investors, who have been selling off Indian stocks amid stagnant returns. Additionally, SEBI suggested tax relief for domestic mutual fund investors, proposing that switching between mutual fund schemes should not be taxed if units have been held for over a year. These recommendations are part of SEBI's pre-budget representations and are not binding on the government.