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In the biggest reduction in 28 years, the government on Friday slashed corporate tax by almost 10 percentage points as it looked to pull the economy out of a six-year low growth and a 45-year high unemployment rate by reviving private investments with a Rs 1.45-lakh crore tax break.
“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”, Finance Minister Nirmala Sitharaman said on Sunday.
India was earlier 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.
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. The government has fixed fiscal deficit target of 3.3 per cent of the gross domestic product for the current financial year. What are your thoughts on this? Comment and let us know!
Last Tuesday, Finance Minister Nirmala Sitharaman said that factors like the upcoming BS6 emission norms and preference of millennials for Ola and Uber have affected the Indian automobile industry.
Nirmala Sitharaman said millennials are not buying cars any more. While speaking about the slowdown in the auto industry, Nirmala Sitharaman said this change in the mindset of millennials is one of the big reasons behind the crisis.
This statement did not go down well with millennials and they began expressing their views in the way they know best: by posting about it on social media. Nirmala Sitharaman's comment saw her becoming the butt of jokes.
Within minutes, #BoycottMillennials started trending on Twitter. What do you have, to say on this? Comment and let us know!
In a scene where CBI officers were even seen scaling walls at his residence, senior politician and former Finance Minister P Chidambaram was taken into custody on Wednesday, the 21st of August. After being taken into custody, Chidambaram was taken to the CBI headquarters for questioning and a medical examination. The Congress leader has been accused of wrongdoing, money laundering and misusing the post of Finance Minister. While the arrest has received a good response from the public, other senior politicians like Mamata Banerjee have taken a stand and said that the manner in which the arrest was carried out was disrespectful. What are your views on the matter? Comment and let us know!
Be Kind and Courteous. We're all in this together to create a welcoming environment. Let's treat everyone with respect. Healthy debates are natural, but kindness is required.
No Promotions or Spam. Give more than you take to this community. Self-promotion, spam and irrelevant links aren't allowed.
Respect Everyone's Privacy. Being part of this community requires mutual trust. Authentic, expressive discussions make communities great, but may also be sensitive and private.
No Hate Speech or Bullying. Make sure everyone feels safe. Bullying of any kind isn't allowed, and degrading comments about things like race, religion, culture, sexual orientation, gender or identity will not be tolerated.
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