This weakness is likely to continue in the near-term.
Total subsidy bill could come down to around Rs 2 trillion.
GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore.
Modi's'Make in India' drive launched last September included laying out a model of "port-led" development that would support industrial growth.
India has more service companies, such as IT and healthcaresectors, which always trade at a premium to the overall market.
The 30-share Sensex closed down 115 points at 28,444 and the 50-share Nifty ended down 31 points at 8,524.
Most experts said indices would open higher on Monday and rally might sustain for a few sessions
Uncertainty lingers in the minds of retail investors due to scams.
Market experts poohpooh fears of capital flight from India.
Even as the Indian benchmarks, the BSE Sensex and Nifty 50, crumbled over three per cent today, experts are optimistic about the Indian economy and believe investors can still make 30 per cent plus returns in 2015
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