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Centre's Corporate Tax Cut Headlines Front Pages Of All Major Dallies

Centre's Corporate Tax Cut Headlines Front Pages Of All Major Dallies

The centre on Friday reduced corporate tax on domestic firms in a bid to boost the sluggish economy is the lead story in most of the leading newspapers today. The arrest of BJP leader Chinmayanand, who is accused of rape, has also been reported in the front pages of most of these papers.

The Times Of India reports that the cut on corporate tax is one of the boldest economic initiatives and probably one of the largest ever giveaways in India by the Narendra Modi government. It also reports that following the announcement, the sensex rallied 1,921 points-its second biggest single-day gain ever-to close at 38,015 points, helping investors grow richer by Rs 7.1 lakh crore.

Hindustan Times reports that the move, which was almost universally welcomed, spurred the stock markets to register the highest single-day rise in a decade. "This is not bigger than the budget, this is bigger than the last 20 budgets," it quoted a Singapore-based fund manager as saying.

The Indian Express reports that the decision to cut corporate tax is the biggest booster dose to a slowing down economy. The paper also carries a chart on how government and the market moved following union budget announcements.

The Telegraph explains Finance Minister Nirmala Sitharaman's announcements on corporate tax cut in pointers. It also details on the corporate tax collections by the government from 2014-19.

"Corporate taxes slahed, Sensex zooms 1,921 pts" is how The Asian Age headlined its lead story on corporate tax cut, today. The paper also carries a separate breakout that the announcement has led to talks of possible cut in income tax for individuals.