(With PTI inputs)

NEW DELHI: Domestic equtiy benchmark BSE sensex on Friday surged over 2,000 points after finance minister Nirmala Sitharaman announced that corporate tax rates will be slashed for domestic companies and new domestic manufacturing companies.After a cautious start, the 30-share BSE index was trading 2012.97 points or 5.58 per cent high at 38,076.94 at 1:50 pm. While, the broader NSE Nifty was up by 586.40 points or 5.48 per cent at 11,291.20.Top gainers in the sensex pack include Maruti, Hero MotoCorp, IndusInd Bank, Bajaj Finance, Tata Steel, Tata Motors, SBI and Asian Paints with their shares rising as much as 15.76 per cent.In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.Making the announcement, Finance Minister Nirmala Sitharaman said the new tax rate will be applicable from the current fiscal which began on April 1.This, she said is being done to promote investment and growth.The government has also decided to not levy enhanced surcharge introduced in the Budget on capital gain arising from sale of equity shares in a company liable for securities transaction tax.Also, the super-rich tax will not to apply on capital gains arising from sale of any security including derivatives in hands of foreign portfolio investors.