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Corporate Tax Cut: The big bang push to revive economy

Corporate Tax Cut: The big bang push to revive economy

Finance Minister Nirmala Sitharaman in a press conference announced corporate tax rate cut in a surprise Rs 1.45 lakh crore break aimed at reviving private investment, seeking to lift growth from a six-year low that has sapped jobs and fuelled discontent in the countryside. Nirmala Sitharaman told a news conference that the effective corporate tax rate will be lowered to around 25% from 30%, which she said would be on par with Asian peers, an announcement that led Sensex and Nifty to skyrocket.

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