Slashing corporate tax rates a bold measure: RBI guv

September 24, 2019 13:58

The government's recent decision to cut corporate tax rates is a bold measure and augurs well for the economy, Reserve Bank of India Governor Shaktikanta Das said on Tuesday.

"It is a very bold measure and it is a highly positive step. India's corporate tax now becomes very competitive compared to other emerging market economies in ASEAN and other parts of Asia," he said while talking to reporters.

"So far as international investors are concerned, I think India definitely stands in a very competitive position and will be able to attract higher investments," said Das.

He added that lower corporate tax will leave domestic companies with more cash to undertake fresh capital expenditure.

"They can invest more. Some of them can deleverage their liabilities, which will add strength to their balance sheets.

"Many southeast Asian economies like Malaysia, Indonesia and China charge 24 to 25 per cent corporation tax.Finance Minister Nirmala Sitharaman on Friday slashed the effective corporate tax rates to 25.17 per cent (inclusive of all cess and surcharges) from 30 per cent for all domestic companies. -- PTI

« Back to LIVE

TOP STORIES

Rohith Vemula's kin to challenge police closure report on his suicide

In its closure report on Rohith Vemula's death, the Telangana police claimed he was not a Dalit and died by suicide in 2016 as he feared that his "real caste" would be discovered.

Who Are Political Ads Targeting?

'It is the first-time voters and the agnostics who are often influenced by political advertising.' 'These swing voters tend to make a huge difference in the outcome of any election.'

Nijjar killing: Canadian police arrest 3 Indians; more arrests likely

Three people have been arrested and charged in the killing of Sikh activist Nijjar, CTV News quoted a senior government source as saying.

Sanya, Up Close

Kriti's next script... Kajol in throwback mode... Rashmika sends out her heart...

Dhanush, Janhvi At Wankhede

Superstar Dhanush took some time off from his busy shooting schedule to catch the cricketing action.