Nirmala Sitharaman announces Rs 1.45 lakh crore stimulus package, cuts corporate tax

Finance Minister Nirmala Sitharaman addresses a press conference ahead of the 37th meeting of the GST Council, in Panaji, on 20 September 2019. MoS Finance Anurag Thakur and Revenue Secretary Ajay Bhushan Pandey are also seen | PTI

Nirmala Sitharaman announces Rs 1.45 lakh crore stimulus package, cuts corporate tax

The effective tax rate will now be 25.17% & 17.01% for existing companies and new manufacturing firms, respectively, provided they don’t claim any exemption under I-T Act.