Finance Minister Arun Jaitley in his Budget proposal said that corporate tax would be cut to 25 per cent over four years, from the current levels of 30 per cent.
Currently, domestic Indian companies pay an effective tax rate of 33 per cent after inclusion of surcharges and cess.
Mr Jaitley's corporate tax announcement boosted stock markets; the Sensex jumped over 250 points, while the Nifty traded above 9,000.
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