Finance Minister Arun Jaitley today said a discussion paper on first set of tax exemptions to be phased out would be put in the public domain shortly. <br/><br/>Jaitley said at an ICC session in Kolkata that he had pointed out during the budget,that the Government will bring down the corporate tax level from 30 per cent to 25 per cent gradually .<br/><br/>Jaitely pointed out that the effective rate of taxation is only 22 per cent plus because there are a large number of exemptions,hence the first set of exemptions phase-out would be put<br/>in the public domain for discussion .<br/><br/>He also said that the government is working on schemes like agri-insurance and health schemes for senior citizens which are in active stages of consideration .