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Historic: PM Narendra Modi hails corporate tax cut

The announcements in the last few weeks clearly demonstrate that the government is leaving no stone unturned to make India a better place to do business, improve opportunities for all sections of society and increase prosperity to make India a USD 5 trillion economy, he said on Twitter "The step to cut corporate tax is historic.

India TV Business Desk India TV Business Desk
New Delhi Updated on: September 20, 2019 14:45 IST
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Corporate tax cut historic: Narendra Modi 

Asserting that economic announcements made in the last few weeks show that his government is leaving no stone unturned to make India a better place to do business, Prime Minister Narendra Modi on Friday hailed Finance Minister Nirmala Sitharaman's economy booster. PM Modi termed the announcement as 'historic'. 

It will give a great stimulus to #MakeInIndia, attract private investment from across the globe, improve the competitiveness of our private sector, create more jobs and result in a win-win for 130 crore Indians," he said.

Battling a six-year low economic growth and a 45-year high unemployment rate, the government on Friday slashed corporate tax rates for companies by almost 10 per cent to 25.17 per cent to bring them at par with Asian rivals such as China and South Korea, as it looked to boost demand and investments.

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ALSO READ: Highlights of announcements on corporate tax and fiscal measures made by FM Nirmala Sitharaman

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