Finance Minister Nirmala Sitharaman today announced big cuts in corporate tax rate, giving a ₹1.45 lakh crore stimulus aimed at reviving private investment and lifting growth from a six-year low. The government also rolled back enhanced surcharge, announced in this year’s Budget, on capital gains arising on sale of equity share in a company or a unit of an equity oriented mutual fund in the hands of an individual. The government has promulgated an ordinance to make amendments in the Income-tax Act and make them effective from retrospective from April 1. Prime Minister Narendra Modi in a tweet said: “The step to cut corporate tax is historic. It will give a great stimulus to #MakeInIndia, attract private investment from across the globe, improve competitiveness of our private sector, create more jobs and result in a win-win for 130 crore Indians.

(Live Mint)