Finance Minister in a bid to stimulate the economy has announced on Friday a reduction in corporate tax to 22% for existing companies and 15% for new manufacturing companies.
Before this meeting Finance Minister had made some big announcements. The Union Minister spoke of reducing corporate tax while giving relief to the company and the businessmen.
With this announcement of the central government, the stock market's senses increased by 1900 points, and the Nifty strengthened by 500 points. This is the biggest boom of 10 years in the market.
In the last few days, the Modi government was continuously getting bad news in the field of economy, but after this announcement by the Finance Minister, there has been a bump in the stock market.
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