Markets clock best day in 10 yrs after sharp slash in corporate tax rates

Topics Indian markets

Indian shares notched their best day in more than a decade after the government announced deep cuts in corporate taxes to revive flagging growth in Asia's third-largest economy. Finance Minister Nirmala Sitharaman said the effective corporate tax rate would be lowered to around 25% from 30% and scrapped the minimum alternative tax for domestic companies. Both the broader NSE index and the benchmark BSE index closed 5.

3% higher, finishing the week with gains of more than 1.5%. The rupee, which rose as much as 0.9%.....

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