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FM Sitaraman’s Corporate Tax cut measures surges Sensex up by 1900 points

Domestic equity benchmark BSE Sensex skyrocketed over 1,900 points on Friday after Finance Minister Nirmala Sitharaman announced a slew of measures to revive the ailing economy.

Sensex shot up 1,921.15 pts to end at 38,014.62 and Nifty zoomed past 11,200.In a major booster to the market, the government has decided not to levy the enhanced surcharge introduced in the Budget on capital gain arising on sale of equity shares in companies liable for a securities transaction tax. Sitharaman said the revenue foregone on reduction in corporate tax and other relief measures would be Rs 1.45 lakh crore annually. This, she said, is being done to promote investment and growth.

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