Big boost for Make in India, corporate tax for domestic firms slashed

In a major boost for domestic companies, the finance minister has slashed corporate tax rate for domestic companies to 25.17 per cent inclusive of all cess and surcharges. The finance minister said that the move would be a major boon for Make in India as well. The changes will cost the government about Rs 1,45,000 crore in revenue foregone. Sitharaman said the changes were part of the continuing efforts to respond to points made during consultations with the government.