Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
Fri, Oct 18, 2019 | Last Updated 12:11 am IST

Menu &Sections

Search

SBI Chairman says large reduction in corporate taxes the boldest reform in last 28 years

SBI Chairman says large reduction in corporate taxes the boldest reform in last 28 years
SBI Chairman says large reduction in corporate taxes the boldest reform in last 28 years
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Reportedly india Inc. on Friday cheered the government's Rs 1,45,000 crore stimulus, which includes slashing corporate tax to 22 per cent for domestic companies, lower tax of 15 per cent for new manufacturing firms and measures to boost the capital market. Nagesh Basavanhalli, MD and CEO, Greaves Cotton Ltd said "We welcome the Finance Minister's proposition of slashing corporate tax, scrapping surcharge on buyback announced before July 5 and expanding the scope of CSR spend”.

SBI Chairman says large reduction in corporate taxes the boldest reform in last 28 years

Meanwhile the biggest booster dose of the modi 2.0 government is expected to give a major push to the sagging economy which clocked a 6-year low growth of 5 per cent in the April-June quarter of FY20. Nirmal Jain, Chairman, IIFL Group said "Finance Minister Nirmala Sitharaman's Rs 1.45 lakh crore stimuli to reboot india is a bold move to unleash the animal spirit! This can certainly turn the tide for the economy & markets! Also, it's a move towards simpler low tax regime with no or minimal incentives exemptions (which are misused more than used)”.



Moreover sampath Reddy, CIO, Bajaj Allianz Life Insurance too, welcomed these measures, saying that this will help to revive the economy, and thereby change the course of market direction in the near term.


SBI Chairman says large reduction in corporate taxes the boldest reform in last 28 years
5/ 5 - (1 votes)
Add To Favourite
More from author
NorthEast Monsoon finally arrived South India
Why Sourav Ganguly met Amit Shah a day before emerging as BCCI president?
Will BJPs Abhe Singh Yadav retain constituency in Haryana Assembly Elections?
CM KCR been cornered to the core in RTC strike issue
Karti Chidambaram maintained he will appeal in right manner after whatever court says
Watch this Video of Kerala Man caught in grip of Python, being saved
NTA handed credentials of 19 students suspected of hiring impersonators in NEET Impersonation scam
80% of customers of Punjab & Maharashtra Co-operative Bank will get their money back: Amit Shah
Vodafone updated its Rs 399 postpaid plan with more than 100GB additional data for six months
House of Representatives doesn't plan to vote an impeachment investigation into President Donald Trump
Actor Rajkummar Rao brought home Harley-Davidson Fat Bob, priced from Rs. 14.69 lakh
Flipkart is in the process of applying for food retail license in India
Apply for various posts in TANGEDCO
3 died in PMC Bank scam case within 2 days
International migration is largely male, while domestic migration is feminized and marriage-driven
Arvind Kejriwal can revive only if he secures around 60 seats, in upcoming Delhi election
Rojo the first to complaint against Jolly in Koodathayi murders
Telangana Governor met PM Modi to discuss RTC Strike issue
ED arrested P Chidambaram in INX Media Case
SC concludes hearing in Ayodhya land dispute case
Giving all public sector banks a "lifeline" is today her primary duty: Nirmala Sitharaman
PM Modi called opposition parties 'shameless' during campaigning for Maharashtra Assembly polls
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional