More than Rs 7 lakh crore worth of wealth was added as market capitalisation on the Bombay Stock Exchange, welcoming the finance minister’s announcement to reduce effective corporate income tax by almost 10 percentage points from 34.94 to 25.17.
Addressing the media on measures to boost the economy, Finance Minister Nirmala Sitharaman said violations of CSR norms under the Companies Law will be treated only as a civil liability and not as a criminal offence.
Finance Minister Nirmala Sitharaman presented the first budget of the Modi government in its second term. Sitharaman said India needs to make structural reforms to achieve USD 5 trillion economy in the next few years. Follow live updates here