As Finance Minister Nirmala Sitharaman announced a lowering of the corporate tax rate for domestic companies to 22 per cent on Friday, hashtags like #CorporateTaxCut, #Sensex have been trending since morning.
Though investors and shareholders have been rejoicing, many netizens took to Twitter to disapprove of the new announcement.
"You are hungry. You don't have money to buy atta or rice. So, to help you earn money to buy atta or rice, govt slashed the taxes of rice and flour mill owners. What an idea sir ji! #CorporateTaxCut," said a Twitter user.
India is ready to welcome global investors with new Corporate tax rates #corporatetaxcut @dhaval241086 https://t.co/FyVMk1WPQe pic.twitter.com/YgLyDTX7qX
— Mukhiya ji (@humour_full) September 20, 2019
"Reducing corporate Tax!!!Will it reduce common man burden also or Richer will get richer?? Definitely will reduce corporate Burden," wrote another.
With the latest announcement, Sensex and Nifty logged their biggest ever single day gains on Friday.
"Despite all the trolls and memes on FM @nsitharaman in last few weeks, there is a strong possibility history will remember her fondly for the reforms announced today #corporatetaxcut," posted another user.
Sensex on full throttle mode. #economy #CorporateTax #corporatetaxcut #nifty50 #sensex #FridayMotivation pic.twitter.com/IsHQSy2MgE
— GD 🇮🇳 (@Girish1288) September 20, 2019
"Just after FM press conference sensex be like #CorporateTax, Aur mai aasmaan ki uchaiyon mai," Twitted a user with the famous paragliding meme that has been trending since a few weeks.
A user wrote: "On this historic day, 720 #stocks on BSE rose>3.6 per cent. Today, was not the day of fundamentals or technicals, simply boosters. Sharing best returning 320 stocks, which made the day."
"Lady lady lady.....She is leading, manoeuvring, accelerating..... She is @nsitharaman Thanks a ton Ma'm for boosting the morale of entrepreneurs. Please do the same for Individuals so that we have more money in pockets to purchase. #corporatetaxcut," a user noted.
This #corporatetaxcut will give a major boost in our agenda of making our nation a manufacturing hub. This move clearly exhibits the govt’s intent of working for the betterment of all the sectors incorporating their recommendations.
— Raosaheb Patil Danve (@raosahebdanve) September 20, 2019