CORRECTED-India cuts effective corporate tax rate to 25.17% to revive investment

Indian Finance Minister Nirmala Sitharaman announced a slew of measures on Friday to revive sagging investment in Asia's third-largest economy, including a cut in corporate taxes.

Sitharaman told a news conference that the effective corporate tax rate will be lowered to 25.17% from 30%, which she said would be at par with Asian peers. The government also scrapped the minimum alternative tax for domestic companies.

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