As Sensex soars over 1900 points after Finance Minister Nirmala Sitharaman's announcements, netizens, taking it to Twitter celebrated the economic boost through memes. The Bombay Stock Exchange (BSE) Sensex closed on Friday at an unprecedented 5.32 per cent high at 38,014.62 points. The 30-shared index 2,284.55 points to a peak of 38,378.02 points. The Sensex went up by 1921.15 points. 

Netizens React

Finance Minister Nirmala Sitharaman announced the tax rate cut for domestic companies to 22 per cent. Further, for new domestic manufacturing companies the tax rate cut has been to 15 per cent. Sitharaman announced other tax relief measures as well, as Sensex shot up. Taking it to twitter, Netizens have reacted to the major economy boost through memes and jokes with the trending hashtag- #Sensex. 

Read: Corporate tax rate cut brings India closer to peers: Moody's

 

Read: Anand Mahindra comes to Nirmala Sitharaman's defence, shuts trolls

Read: Sensex soars 1900 points post corporate tax rate cut by FM Sitharaman

 

 

The beneficiaries 

In a major boost to the economy, the government has taken measures to promote investment and growth in the market. FM Nirmala Sitharaman announced that the enhanced surcharge introduced in the budget on the capital gain will not be levied anymore. Further, the super-rich tax will not be applicable to capital gains from the sale of any security including derivatives in hands of foreign portfolio investors. In this, all the companies that have announced a buyback of shares prior to July 5 will not be charged with the super-rich tax. Along with this, the corporate tax has been cut down to 25.17 per cent inclusive of all the cess and surcharges for domestic companies. 

Read: Nirmala Sitharaman & Kiran Mazumdar-Shaw in Twitter spat over economy

Read: GST Council meet to take call on tax rate cut on September 20