The government also scrapped the minimum alternative tax for domestic companies PANAJI, India: Indian Finance Minister Nirmala Sitharaman announced a slew of measures on Friday to revive sagging investment in Asia’s third largest economy including a cut in corporate taxes. Sitharaman told a news conference that the effective corporate tax rate will be lowered to 25.75 percent from 30 percent, which she said would be at par with Asian peers. The government also scrapped the minimum alternative tax for domestic companies.