In order to boost manufacturing, concessional corporate tax of 15% given to new firms that start manufacturing by March 31, 2023. FM Sitharaman also proposes to extend concessional corporate tax of 15% to new firms in power generation. Besides, the finance minister also proposes 100% tax concession to sovereign wealth funds on investment in infra projects. Further, Nirmala Sitharaman said that many measures initiated to handhold startups to support their growth.