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Nifty big shot over stimulus package by FM

stimulus package by FM:

A blockbuster Friday for the market. FM Nirmala Sitaramn announced stimulus package for corporates. It may result in a turn around in the economy. Trading cycle, investment cycle and sentiment revival is on the focus. Stimulus package by FM is going to have long term impact. Following is a brief list of announcements.

  • The tax rate for corporates is reduced to 22%. This cut is with a condition that they won’t claim any exemption or incentive.Also, such companies shall not be required to pay Minimum Alternate Tax
  • The tax rate for a new manufacturing company will be 15%. Companies incorporated after 1st October 2019 and engaged in manufacturing.

Text on Press release is here:

stimulus package by FM

PIB 20 Sep 2019.pdf 2019-09-20 12-16-16

stimulus package by FM

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  • Ashish Mehta

    Nifty shot due to stimulus package and cut tax rate is one reason but there are other factors also which lifted stock market. Low interest rate and easy monetary policies creates abundance liquidity that will uplift Indian market as well as global market, strong growth in domestic equity flows, The AMFI.” Sahi Hai’ “campaign appears to have worked very well indeed. This, and the growing of distributors have helped increase retail awareness about equity mutual fund. The slowing growth, ageing population and lack of return in other financial assets attracted equity too also they have to recognise that their own tax incentives and monetary policy could be feeding this relentless flow into equity markets