Reportedly Finance Minister Nirmala Sitharaman said india has become a highly competitive investment destination post corporate tax reduction as the rates are now lower than that in china and most Southeast Asian countries. Earlier india was at disadvantage because of a couple of factors and on top of it was the high corporate tax rate, she said, adding that the reduction has made it attractive for foreign investors, including iPhone maker apple, to set up units in the country.
She said "The top consideration on which india was rejected as an investment destination is now better than everybody else for someone who is coming up with new investment, no country is offering 15 per cent (tax rate). We are giving 15 per cent with no MAT (minimum alternate tax) and simpler taxation structure”.
Furthermore quoting experts, she said india is now much better than china in terms of rate, transparency, and tax administration so companies can now look at india for setting up new units. She added "apple and its entire ecosystem's moving will have a greater impact. Everyone who comes now will straightaway get 15% tax benefit. Component manufacturers of apple in china will find india more attractive to have units at 15% in india than 25% there”.
BJP confident in winning Maharashtra Assembly Elections with full majority Reportedly in a veiled message to the Shiv Sena, Home Minister Amit Shah asserted that it is not impossible for the Bharatiya Janata Party (BJP) to receive absolute majority in the upcoming Maharashtra Assembly election. Meanwhile in an exclusive interview with leading network, Shah predicted a two thirds majority for the BJP-Shiv Sena "gathbandhan". Even though the home minister accepted
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