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Investors and Stock Holders are Celebrating Corporate Tax Cut News, With Memes

On Friday, Finance Minister Nirmala Sitharaman slashed corporate tax to 25.17 per cent, providing a Rs 1.45 lakh crore break which is intended to help revive private investments.

Jashodhara Mukherjee | News18.com

Updated:September 20, 2019, 4:22 PM IST
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Investors and Stock Holders are Celebrating Corporate Tax Cut News, With Memes
On Friday, Finance Minister Nirmala Sitharaman slashed corporate tax to 25.17 per cent, providing a Rs 1.45 lakh crore break which is intended to help revive private investments.

On Friday, Finance Minister Nirmala Sitharaman announced that basic corporate tax will be slashed to 22 percent, providing a Rs 1.45 lakh crore break which is intended to help revive private investments. Sitharaman's move is likely to boost the economy which had been facing a six-year low resulting in dearth of employment opportunities and widespread discontent and dissatisfaction.

The corporate tax rate will be 22 percent for domestic companies without exemptions.  The effective tax rate will be 25.17 percent, including surcharges and cess for these companies. The fact that the tax rate has been slashed from earlier 30 percent caused Sensex and Nifty to immediately skyrocket. Soon after the announcement, Sensex went up by 1200 points.

Naturally, investors and shareholders have been rejoicing. #CorporateTax and #Sensex have been the top hashtags since morning and most tweets and posts have been lauding Sitharaman for the move which people are hoping will give the stock market a much-needed push.

This is how desi Twitter celebrated:

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