The Securities and Exchange Board of India, SEBI has announced the framework for Rajiv Gandhi Equity Savings Scheme, a government initiative aimed at attracting small investors into the capital market. In a circular, SEBI said, the objective of the scheme is to encourage flow of savings in the financial instruments and improve the depth of the domestic capital market. Under the scheme announced in the 2012-13 Union Budget, tax benefits can be availed by new investors who invest up to 50,000 rupees in the stock market and whose gross total annual income is less than or equal to 10 lakh rupees.