The GST was also cut on marine fuel to 5 per cent while the same on railway wagons, coaches, rolling stock has been increased from 5 per cent to 12 per cent.
Nirmala Sitharaman said the GST on caffeinated beverages has been hiked to 28 per cent plus an additional cess of 12 per cent as against the current rate of 18 per cent.
The festive bonanza was announced by Chief Minister KCR in Telanaga Assembly, where he hailed the SCCL workers for their contribution to company's growth in the last five years.
The Indian rupee on Friday rose by 40 paise to settle at 70.94 to the US dollar after forex market sentiment was buoyed by the government decision to slash corporate taxes.
In the previous session, the BSE barometer ended 470.41 points, or 1.29 per cent, lower at 36,093.47, while the Nifty plunged 135.85 points, or 1.25 per cent, to settle at 10,704.80.
The surge came after the Narendra Modi government in an effort to aid the domestic sector fighting economic slowdownon on Friday announced corporate tax rates to be slashed for domestic companies
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