Govt cuts Service Tax - Markets end flat
The Indian government announced yet another Stimulus package today,with more cuts in tax & duties.The Finance minister Pranab mukerjee said later in the parliament that the government cut service tax by 2%, to reduce it down to 10%,hoping to boost consumer demand.Added to this it also cuts excise duty on bulk cement to 8%.Apart from this,it was a turbulent day for the markets,ending the day with
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