Cut in corporate tax rate important for investments: CEA Subramanian
Team Udayavani, Nov 29, 2019, 10:40 AM IST
New Delhi: Chief Economic Adviser KV Subramanian on Friday said that the government recognised the need to cut the corporate tax to boost investments.
For the last few quarters the cycle of growth has not been as it was earlier, he said at an event here and added that “corporate tax rate is important for investments”.
India’s economy grew at 5 per cent in the first quarter of 2019-20, the slowest pace in over six years.
The second-quarter GDP number is scheduled to be announced later today.
The government has undertaken a number of measures to arrest the growth slowdown. In September, it announced a cut in the corporate tax rate to 22 per cent from 30 per cent.
It also lowered the tax rate for new manufacturing companies to 15 per cent to attract new foreign direct investments.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Sony India bags ACC media rights for eight years
Musk says X now top news app on App Store in India
Air India to offer integrated aircraft maintenance engineering programme
Markets stage sharp recovery; Sensex reclaims 79k level, Nifty surges 557.35 points
Baku climate talks: The ‘X’ factor that could determine future of Global South
MUST WATCH
Latest Additions
Air pollution: SC flags Delhi govt’s failure to implement GRAP-4 curbs on entry of trucks
Drugs worth Rs 6 crore seized in Bengaluru, five arrested
Siddaramaiah urges Nirmala Sitharaman to address NABARD’s loan cuts to farmers
Satwik-Chirag enter semifinals, Lakshya loses to Antonsen in China Masters
BJP stages protest against Congress govt in Karnataka over Waqf properties row
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.