There has been a sharp sell-off in the equity market since the Budget presentation, with the Nifty declining 7 per cent. It is believed that foreign portfolio outflows from the equity market — triggered by the Budget announcement of a hike in the surcharge on income-tax — is behind the sell-off. Aravind Srivatsan, Partner shares his views on a aforementioned story for Hindu Business Line- Front page story.More than super-rich tax, the dull equity market is putting FPIs off